Lithium Argentina Shareholders Approve Corporate Migration to Switzerland
Lithium Argentina (LAAC) shareholders have overwhelmingly approved the company's plan to change its incorporation from Canada to Switzerland at a Special Meeting held on January 17, 2025. The arrangement resolution received 99.23% approval from voting shareholders, with 39.78% of total shares outstanding being represented at the meeting.
The Corporate Migration is expected to become effective around January 23, 2025, subject to final court order from the Supreme Court of British Columbia and other customary approvals. According to CEO Sam Pigott, this strategic move aims to strengthen the company's position by expanding its financial and strategic flexibility. The company's focus remains on strengthening operations in Argentina, building on production at Caucharí-Olaroz, improving efficiency, and advancing growth in the electromobility supply chain.
I soci di Lithium Argentina (LAAC) hanno approvato con grande entusiasmo il piano dell'azienda di trasferire la propria sede da Canada a Svizzera in un'Assemblea Straordinaria tenutasi il 17 gennaio 2025. La risoluzione per l'arrangiamento ha ricevuto un 99,23% di approvazione dai soci partecipanti al voto, con il 39,78% delle azioni totali rappresentate all'incontro.
La Migrazione Corporativa dovrebbe diventare efficace intorno al 23 gennaio 2025, soggetta all'ordinanza finale della Corte Suprema della Columbia Britannica e ad altre approvazioni consuete. Secondo il CEO Sam Pigott, questa mossa strategica mira a rafforzare la posizione dell'azienda ampliando la propria flessibilità finanziaria e strategica. L'azienda rimane concentrata sul rafforzamento delle operazioni in Argentina, potenziando la produzione a Caucharí-Olaroz, migliorando l'efficienza e facendo avanzare la crescita nella catena di fornitura della mobilità elettrica.
Los accionistas de Lithium Argentina (LAAC) han aprobado abrumadoramente el plan de la compañía para cambiar su incorporación de Canadá a Suiza en una Junta Especial celebrada el 17 de enero de 2025. La resolución del acuerdo recibió un 99,23% de aprobación por parte de los accionistas que votaron, con el 39,78% del total de acciones en circulación representadas en la reunión.
Se espera que la Migración Corporativa se haga efectiva alrededor del 23 de enero de 2025, sujeta a la orden final del Tribunal Supremo de Columbia Británica y otras aprobaciones habituales. Según el CEO Sam Pigott, este movimiento estratégico tiene como objetivo fortalecer la posición de la empresa ampliando su flexibilidad financiera y estratégica. El enfoque de la empresa sigue siendo fortalecer las operaciones en Argentina, aumentando la producción en Caucharí-Olaroz, mejorando la eficiencia y avanzando en el crecimiento de la cadena de suministro de electromovilidad.
리튬 아르헨티나 (LAAC)의 주주들은 2025년 1월 17일 개최된 특별 회의에서 회사를 캐나다에서 스위스로 변경하는 계획을 압도적으로 승인했습니다. 이 안건에 대한 투표에서 99.23%의 승인을 받았으며, 회의에는 전체 발행 주식의 39.78%가 참석했습니다.
기업 이전은 2025년 1월 23일경에 시행될 예정이며, 브리티시컬럼비아 대법원의 최종 명령 및 기타 관행적인 승인이 필요합니다. CEO 샘 피곳은 이 전략적 이동이 회사의 재정 및 전략적 유연성을 확대하여 입지를 강화하는 것을 목표로 하고 있다고 설명했습니다. 회사는 아르헨티나에서의 운영을 강화하고, 카우차리-올라로즈의 생산을 발전시키며, 효율성을 개선하고, 전자 이동 수단 공급망의 성장을 추진하는 데 집중하고 있습니다.
Les actionnaires de Lithium Argentina (LAAC) ont approuvé à une écrasante majorité le plan de l'entreprise visant à transférer son incorporation du Canada vers la Suisse lors d'une Assemblée Générale Extraordinaire tenue le 17 janvier 2025. La résolution a reçu un 99,23 % d'approbation des actionnaires votants, avec 39,78 % des actions totales représentées lors de la réunion.
La Migration d'Entreprise devrait entrer en vigueur aux alentours du 23 janvier 2025, sous réserve de l'ordonnance finale de la Cour suprême de la Colombie-Britannique et d'autres approbations habituelles. Selon le PDG Sam Pigott, ce mouvement stratégique vise à renforcer la position de l'entreprise en élargissant sa flexibilité financière et stratégique. La société reste concentrée sur le renforcement de ses opérations en Argentine, l'augmentation de la production à Caucharí-Olaroz, l'amélioration de l'efficacité et la promotion de la croissance de la chaîne d'approvisionnement de l'électromobilité.
Die Aktionäre von Lithium Argentina (LAAC) haben den Plan des Unternehmens, die Gründung von Kanada nach Schweiz zu verlagern, in einer Sonderversammlung am 17. Januar 2025 überwältigend genehmigt. Der Beschluss zur Umstrukturierung erhielt eine 99,23%ige Zustimmung von den abstimmenden Aktionären, wobei 39,78% der insgesamt ausgegebenen Aktien in der Sitzung vertreten waren.
Die Unternehmensmigration wird voraussichtlich um den 23. Januar 2025 wirksam, vorbehaltlich der endgültigen gerichtlichen Anordnung des Obersten Gerichtshofs von British Columbia und anderer üblicher Genehmigungen. Laut CEO Sam Pigott zielt dieser strategische Schritt darauf ab, die Position des Unternehmens durch erweiterte finanzielle und strategische Flexibilität zu stärken. Das Unternehmen konzentriert sich weiterhin darauf, die Operationen in Argentinien zu stärken, die Produktion in Caucharí-Olaroz zu erhöhen, die Effizienz zu verbessern und das Wachstum in der Elektromobilitäts-Lieferkette voranzutreiben.
- 99.23% shareholder approval for corporate migration indicates strong investor confidence
- Strategic move expected to enhance financial and operational flexibility
- Strong ongoing production at Caucharí-Olaroz facility
- Only 39.78% of total shares participated in the voting process
Insights
The approved corporate migration from Canada to Switzerland represents a strategic repositioning that could yield substantial benefits for Lithium Argentina. Switzerland's business-friendly environment, robust banking system and favorable tax treaties make it an attractive jurisdiction for mining companies. The 99.23% shareholder approval indicates strong confidence in management's strategic vision.
Switzerland's neutrality and stable regulatory framework could enhance LAAC's ability to negotiate international deals and access European markets. The timing aligns with growing demand for lithium in Europe's expanding EV market. Additionally, Swiss incorporation could provide better access to European financial markets and potentially lower cost of capital.
The Caucharí-Olaroz operation's strong production mentioned by the CEO suggests the company is executing well operationally while pursuing this corporate restructuring. This dual focus on operational excellence and strategic positioning could strengthen LAAC's competitive advantage in the global lithium market.
The corporate migration process appears well-structured with proper shareholder and regulatory compliance. The 39.78% voter turnout meets quorum requirements and the pending Supreme Court of British Columbia approval is a standard procedural step. Switzerland's corporate governance framework offers robust shareholder protections while providing operational flexibility that could benefit LAAC's international operations.
Swiss corporate law provides advantages in areas such as capital structure flexibility, dividend distributions and cross-border transactions. The January 23, 2025 target date for migration completion indicates efficient execution of the legal process. The dual-listing status on TSX and NYSE should remain unaffected, maintaining market access and liquidity for investors.
VANCOUVER, British Columbia, Jan. 17, 2025 (GLOBE NEWSWIRE) -- Lithium Americas (Argentina) Corp. (“Lithium Argentina” or the “Company”) (TSX: LAAC) (NYSE: LAAC) is pleased to announce that today, the Company’s shareholders approved its plan to change its place of incorporation from Canada to Switzerland (“Corporate Migration”) at its Special Meeting of Shareholders (“Special Meeting”). The Special Meeting saw representation of
The arrangement resolution to approve the Corporate Migration to Switzerland received overwhelming support with
“We appreciate our shareholders’ vote of confidence in our strategy which aims to strengthen Lithium Argentina’s position with expanded financial and strategic flexibility going forward,” said Sam Pigott, President and CEO of Lithium Argentina. “Our team is focused on strengthening operations in Argentina, building on strong production at Caucharí-Olaroz, while enhancing efficiency and advancing growth to solidify our role in the electromobility supply chain.”
The Corporate Migration of the Company is expected to become effective on or about January 23, 2025, subject to customary approvals, including the receipt of the final court order from the Supreme Court of British Columbia.
Final voting results on all matters voted on at the Special Meeting will be reported in the Company's Report of Voting Results to be filed on SEDAR+ (www.sedarplus.ca) and EDGAR (www.sec.gov) and posted to the Investors section of the Company’s website at www.lithium-argentina.com.
ABOUT LITHIUM ARGENTINA
Lithium Argentina is a producer of lithium carbonate for use primarily in lithium-ion batteries and electric vehicles. The Company, in partnership with Ganfeng Lithium Co.,Ltd, is operating the Caucharí-Olaroz lithium brine operation in Argentina and advancing development of additional lithium resources in the region. Lithium Argentina currently trades on the TSX and on the NYSE.
For further information contact:
Investor Relations
Telephone: +1 778-653-8092
Email: Kelly.obrien@lithium-argentina.com
Website: www.lithium-argentina.com
FORWARD-LOOKING INFORMATION
This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation and “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 (collectively referred to herein as “forward-looking information”). These statements relate to future events or the Company’s future performance. All statements, other than statements of historical fact, may be forward-looking information. Forward-looking information generally can be identified by the use of words such as “seek,” “anticipate,” “plan,” “continue,” “estimate,” “expect,” “may,” “will,” “project,” “predict,” “propose,” “potential,” “targeting,” “intend,” “could,” “might,” “should,” “believe” and similar expressions. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information.
In particular, this news release contains forward-looking information, including, without limitation, with respect to the following matters or the Company’s expectations relating to matters such as the anticipated timing of the final order of the British Columbia Supreme Court; the anticipated timing for effecting the transaction; the expected growth initiatives in the lithium industry; and the Company’s positioning us for a successful future.
Forward-looking information does not take into account the effect of transactions or other items announced or occurring after the statements are made. Forward-looking information contained in this news release is based upon a number of expectations and assumptions and is subject to a number of risks and uncertainties, including, but not limited to those related to: uncertainties with respect to satisfying requirements of necessity or desirability of permitting or facilitating the completion of the transaction; the continued listing on the TSX and NYSE; being subject to satisfying all conditions prescribed by the exchanges; there being no guarantee that the redomiciling will procure the anticipated benefits nor that the expected impacts will materialize as expected; potential adverse tax consequences resulting from the transaction; discretion of the Company to implement the redomicile or not; risks associated with the Company being governed under a different corporate legal regime post continuation; change in the rights of shareholders as a result of the continuation; unforeseen events that could prevent, delay in or increase in cost of completing the continuation; uncertainties inherent to economic studies and mineral resource and reserve estimates; global financial markets, general economic conditions, competitive business environments, and other factors that may negatively impact the Company’s financial condition; the inability of the Company to secure sufficient additional financing to develop the Company’s mineral projects; and all the other risk factors identified herein and in the Company’s latest annual information form and in other continuous disclosure filings available on SEDAR+ and EDGAR. All forward-looking statements included in this press release are qualified by these cautionary statements. The forward-looking statements contained herein are made as of the date of this press release and, except as required by applicable law, the Company does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
Readers are cautioned that the actual results achieved will vary from the information provided herein and that such variations may be material. Consequently, there are no representations by the Company that actual results achieved will be the same in whole or in part as those set out in the forward-looking statements.
FAQ
When will LAAC's corporate migration to Switzerland become effective?
What percentage of LAAC shareholders approved the corporate migration?
What is the strategic benefit of LAAC's migration to Switzerland?
What was the voter turnout for LAAC's Special Meeting on January 17, 2025?
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