Green Technology Metals raising $50m; Lithium Americas buys in
Lithium Americas is a Canada-headquartered miner with projects in Argentina and North America. It’s listed on both the Tokyo Stock Exchange and the New York Stock Exchange, with a $4 billion odd market capitalisation.
The agreement including a standstill that would stop Lithium Americas from building its stake to more than 10 per cent of Green Technology Metals (without consent) over the next 12 months.
The two have also signed a non-binding framework for to weigh a strategically located, integrated lithium business in North America. The term sheet said this would cover lithium processing and production value chain, right from spodumene processing to production of battery-grade lithium.
Green Technology Metals listed last year after a $24 million initial public offering run jointly by Canaccord Genuity and Bell Potter.
They were back as the joint lead managers on Wednesday’s placement. Bids were due 5pm Wednesday.
It had a $233 million market capitalisation before the raise.
Gloss