Lithium Americas Submits Formal Application for Department of Energy ATVM Loan Program
14 April 2022 - 7:22PM
Lithium Americas Corp. (TSX: LAC) (NYSE: LAC) ("Lithium
Americas" or the "Company") is pleased to announce the
Company has submitted a formal application to the US Department of
Energy (“
DOE”) Loan Programs Office
(“
LPO”) for funding to be used at its 100%-owned
Thacker Pass lithium project in Humboldt County, Nevada
(“
Thacker Pass”) through the Advanced Technology
Vehicles Manufacturing Loan Program (“
ATVM Loan
Program”). The ATVM Loan Program is designed to provide
loans for facilities located in the United States for the
manufacturing of advanced technology vehicles and qualifying
components used in those vehicles.
"Thacker Pass is a
unique, large-scale and advanced-stage lithium project representing
one of the most significant opportunities to create a domestic
lithium supply chain to support the production of electric vehicles
in the US,” said Jonathan Evans, President and CEO. “We are pleased
to submit our formal loan application and look forward to
progressing through the ATVM Loan Program process to accelerate
development of Thacker Pass. We are very excited to become a
leading supplier of domestic critical materials to support the
growth of the domestic battery and electric vehicle industry in
response to increased demand and interest from US-based
consumers.”
The submission is not
an assurance that Lithium Americas will secure funding from the
ATVM Loan Program and additional steps remain in the process.
About Lithium
Americas
Lithium Americas is focused on advancing lithium
projects in Argentina and the United States to production. In
Argentina, Caucharí-Olaroz is advancing towards first production
and Pastos Grandes represents regional growth. In the United
States, Thacker Pass has received its Record of Decision and is
advancing towards construction. The Company trades on both the
Toronto Stock Exchange and on the New York Stock Exchange, under
the ticker symbol “LAC”.
For further information contact:Investor
RelationsTelephone: 778-656-5820Email:
ir@lithiumamericas.comWebsite: www.lithiumamericas.com
FORWARD-LOOKING STATEMENTS
Certain statements in
this release constitute “forward-looking statements” within the
meaning of applicable United States securities legislation and
“forward-looking information” under applicable Canadian securities
legislation (collectively, “forward-looking statements”). Such
forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause the actual results,
performance or achievements of the Company, its projects, or
industry results, to be materially different from any future
results, performance or achievements expressed or implied by such
forward-looking statements. Such statements can be identified by
the use of words such as “may”, “would”, “could”, “will”, “intend”,
“expect”, “believe”, “plan”, “anticipate”, “estimate”, “scheduled”,
“forecast”, “predict” and other similar terminology, or state that
certain actions, events or results “may”, “could”, “would”, “might”
or “will” be taken, occur or be achieved. These statements reflect
the Company’s current expectations regarding future events,
financial or operating performance and results, and speak only as
of the date of this release. Such statements include without
limitation, expectations regarding the status of development of the
Company’s projects, expected potential benefits of the Thacker Pass
project for creation of a battery supply chain in the United States
and resulting benefits to the Company, the outcome of the Company’s
loan application filed with the DOE, the completion of a
feasibility study for the Thacker Pass project, ability to advance
the Thacker Pass project to production and expected product
quality, , plans for regional operations in Argentina and expected
completion of construction of the Caucharí-Olaroz project, and
plans regarding strategic alternatives to finance the Thacker Pass
project.
Forward-looking
statements involve significant risks and uncertainties, should not
be read as guarantees of future performance or results and will not
necessarily be accurate indicators of whether or not such results
will be achieved. A number of factors could cause actual results to
differ materially from the results discussed in the forward-looking
statements or information, including, but not limited to, risks
associated with mining project development, achieving anticipated
milestones and budgets as planned, and meeting expected timelines;
results of the Company’s engineering, design and permitting program
at the Thacker Pass project, including the Company meeting
deadlines and receiving and maintaining permits as anticipated;
timing, results and completion of a feasibility study and to make a
construction decision for the Thacker Pass project including
capital and operating cost estimation; successful development of
the Company’s projects and ability to produce battery-grade
lithium; changes to availability of loan funding, assessment
criteria or government policies concerning the DOE loan
application; risks associated with the novel nature of the deposit
at Thacker Pass; ability of the Company to simultaneously advance
multiple lithium projects to production, and integrate newly
acquired operations into its business; availability of strategic
alternatives to the Company and on satisfactory terms; risks
inherent in litigation that could result in additional
unanticipated delays or rulings that are adverse for the Company or
its projects; maintaining local community support in the regions
where the Company’s projects are located; changing social
perceptions and their impact on project development and litigation;
ongoing global supply chain disruptions and their impact on
developing the Company’s projects; availability of personnel,
supplies and equipment; the impact of inflation on the Company, its
projects and their economic feasibility; expectations and
anticipated impact of COVID-19 on the Company and its mineral
properties; unanticipated changes in market price for the Company’s
shares; changes to Lithium Americas’ current and future business
plans and the strategic alternatives available to Lithium Americas;
changes in government policies and priorities; stock market
conditions generally; demand, supply and pricing for lithium; and
general economic and political conditions in Canada, the United
States, Argentina and other jurisdictions where Lithium Americas
conducts business. Additional information about these assumptions
and risks and uncertainties is contained in the Company’s filings
with securities regulators, including the Company’s most recent
annual information form and most recent management’s discussion and
analysis for the Company’s most recently completed financial year
and interim financial period, which are available on SEDAR at
www.sedar.com and EDGAR at www.sec.gov.
Although the
forward-looking statements contained in this release are based upon
what management of the Company believes are reasonable assumptions,
there can be no assurance that actual results will be consistent
with these forward-looking statements. These forward-looking
statements are made as of the date of this release and are
expressly qualified in their entirety by this cautionary statement.
Subject to applicable securities laws, the Company does not assume
any obligation to update or revise the forward-looking statements
contained herein to reflect events or circumstances occurring after
the date of this release.
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