Lithium Americas closes $250M Orion investment, achieves FID for Thacker Pass Phase 1

LITHIUM AMERICAS CORP.

Closed $195M convertible note at 9.875% interest, $25M production payment from Orion; additional $30M delayed draw notes available.
Thacker Pass Phase 1 FID announced with GM; construction target late 2027 for 40,000 t/y lithium carbonate.
Fully funded status achieved; DOE $2.26B loan conditions satisfied; GM contributed $100M, LAC $192M to JV.
Convertible note convertible at $3.78/share, maturity April 2030; capped conversion at 43.7M shares.
Production payments: fixed $128/tonne for 72 quarters, variable 0.96% of gross revenue for life of mine.

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