Lithium Americas (LAC) is responding to media reports pertaining to the status of its previously announced $2.26B loan from the U.S. Department of Energy. The company is in discussions with the DOE and General Motors (GM), its joint venture partner in the Thacker Pass lithium project, regarding first draw on the DOE Loan. The topics of these discussions include certain conditions precedent to draw on the DOE Loan and associated loan specifics, as well as incremental requests from the DOE for potential further conditions to first draw and/or potential amendments to the DOE Loan and associated transaction documents, including corresponding consideration. The company continues to work with the DOE and GM regarding proposals for a mutually agreeable resolution.
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