On August 16, 2024, Lithium Americas (Argentina) Corp. (TSX/NYSE: LAAC) ("Lithium Argentina") announced the completion of its previously announced agreement with a subsidiary of China-based Ganfeng Lithium Co. Ltd. in which Ganfeng Lithium acquired US$70 million in newly issued shares of Proyecto Pastos Grandes S.A. ("PGCo"), a wholly-owned Argentinian subsidiary of Lithium Argentina, holding the Pastos Grandes project in Salta, Argentina, which shares represent an approximate 14.9% interest in PGCo.

Lithium Argentina is an emerging producer of lithium carbonate for use primarily in lithium-ion batteries and electric vehicles and, in partnership with Ganfeng Lithium, is ramping up production of the Caucharí-Olaroz lithium brine operation in Argentina. Pastos Grandes is a lithium brine development project acquired by Lithium Argentina in early 2022.

Linda Hogg of Gowling WLG advised Ganfeng Lithium and its subsidiary with respect to this transaction.