Vancouver, British Columbia–(Newsfile Corp. – January 5, 2022) – Millennial Lithium Corp. (TSXV: ML) (FSE: A3N2) (OTCQB: MLNLF) (“Millennial” or the “Company“) is pleased to announce that at the Company’s special meeting of shareholders (the “Shareholders“) and warrantholders (the “Warrantholders“, and, together with the Shareholders, the “Voting Securityholders“) held earlier today (the “Meeting“) the Voting Securityholders voted in favour of the special resolution (the “Arrangement Resolution“) approving the previously announced plan of arrangement under Section 288 of the Business Corporations Act (British Columbia) pursuant to which Lithium Americas Corp. (TSX: LAC) (NYSE: LAC) is to acquire all of the issued and outstanding common shares of the Company (the “Arrangement“).
The Arrangement Resolution was approved by: (i) 98.60% of votes cast by Shareholders; (ii) 98.61% of votes cast by Voting Securityholders voting together as a single class; and (iii) 98.31% of the votes cast by Shareholders excluding for this purpose the votes cast by any persons that are required to be excluded under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions. Voting Securityholders holding securities carrying an aggregate of 22,037,250 votes, representing approximately 21.57% of votes entitled to be cast at the Meeting, were represented in person or by proxy at the Meeting.
Additionally, on December 30, 2021, the Commissioner of Competition issued a “no-action” letter, which satisfies the Competition Act approval condition in the Arrangement Agreement.
The Arrangement remains subject to customary closing conditions, including the approval of the Supreme Court of British Columbia. The Arrangement is currently expected to be completed on or about January 25, 2022, provided that the conditions to the Arrangement are satisfied or waived.
Lithium Americas is a development-stage company with projects in Jujuy, Argentina and Nevada, United States. Lithium Americas trades on both the Toronto Stock Exchange and on the New York Stock Exchange, under the ticker symbol “LAC”.
MILLENNIAL LITHIUM CORP.
President, CEO and Director
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target, “plan”, “forecast”, “may”, “schedule” and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to the Arrangement, approvals and completion of the Arrangement. The Company’s current plans, expectations and intentions may be impacted by economic uncertainties arising out of the Covid-19 pandemic or by the impact of current financial and other market conditions. Such statements represent the Company’s current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affections such statements and information other than as required by applicable laws, rules and regulations.