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ZUG, Switzerland, Sept. 15, 2026 (GLOBE NEWSWIRE) — Lithium Argentina AG (“Lithium Argentina” or the “Company“) (TSX: LAR) (NYSE: LAR) today announced the closing of the $180 million strategic investment from Ganfeng Lithium Group Co., Ltd. (“Ganfeng”) through the issuance of a six-year unsecured convertible note (the “Note” or the “Strategic Investment”).
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Sam Pigott, the Company’s CEO, commented: “With the funds from the Strategic Investment and cash distributions from Cauchari-Olaroz, Lithium Argentina now has a materially stronger balance sheet, with lower net debt, a six-year maturity profile and a low cost of capital. That combination gives us the flexibility to advance Stage 2 at Cauchari-Olaroz and support PPG in a disciplined, phased approach that limits equity dilution and unlocks the value of both assets for our shareholders.”
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The Note bears a coupon of 4.0% per annum, matures six years from issuance and is convertible into common shares of the Company at $12.50 per share, on the terms described in the Company’s news release dated August 24, 2026. Net proceeds, together with cash on hand, will be used to repay in full the Company’s $259 million convertible notes due January 2027. The Company’s joint venture with Ganfeng in respect of the consolidation of the Pozuelos-Pastos Grandes project (“PPG”) remains on track to be completed by the end of September 2026.
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Ganfeng currently owns approximately 9.6% of the Company’s issued and outstanding common shares. Assuming full conversion, Ganfeng would receive 14.4 million additional common shares and would own approximately 16.1% of the Company’s common shares on a fully diluted basis.
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ABOUT LITHIUM ARGENTINA
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Lithium Argentina is a producer of lithium carbonate for use primarily in lithium-ion batteries and electric vehicles. The Company, in partnership with Ganfeng, operates the Cauchari-Olaroz lithium brine operation in the Jujuy province of Argentina and is advancing PPG in the Salta province of Argentina. Lithium Argentina currently trades on the TSX and on the NYSE under the ticker “LAR”.
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For further information contact:
Investor Relations
Telephone: +1 778-653-8092
Email: [email protected]
Website: http://www.lithium-argentina.com
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FORWARD-LOOKING INFORMATION
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This news release contains “forward-looking information” and “forward-looking statements” (which we refer to collectively as forward-looking information) under the provisions of applicable securities legislation. Forward-looking information can be identified by the use of words such as “seek”, “anticipate”, “plan”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “predict”, “propose”, “potential”, “target”, “intend”, “could”, “might”, “should”, “believe”, “scheduled”, “implement” and similar words or expressions. All statements, other than statements of historical fact, are forward-looking information. Forward-looking information in this news release include, without limitation, information with respect to the following matters or the Company’s expectations relating to such matters: the anticipated benefits of PPG and the Strategic Investment; the expected use of proceeds from the Strategic Investment, together with cash on hand, to repay, in full, the convertible notes due January 2027, and the anticipated benefits therefrom; the anticipated shareholdings of Ganfeng in the Company following conversion of the Note; the Company’s plans and next steps to advance PPG; the Company’s plans to advance the Stage 2 expansion at Cauchari-Olaroz and to support PPG, including the timing and phasing thereof and the anticipated benefits therefrom; and the Company’s balance sheet, net debt, maturity profile and cost of capital and the anticipated flexibility therefrom; and the expected timing of closing of the PPG joint venture.