Lithium Americas Corp (LAAC)

[hondobud]

Deal for clay products from Nevada site.

Lithium Americas Corp. (the "Company" or "LAC")(LAC.TO)(LACDF) is pleased to announce the re-branding of its Hectatone Inc. clay minerals business as RheoMinerals Inc. ("RMI").

Under this agreement, RMI will collaborate with Delmon in the design and construction of a manufacturing facility (the "Delmon Plant") for specialty additives used in oil based drilling fluids. The initial product offering will include organophilic bentonite and organophilic lignite products.

As consideration for technical assistance, RMI will receive US$1.2 million in progress payments upon Delmon achieving certain construction and operational milestones in addition to the reimbursements of expenses and costs of technical personnel. Under the Agreement, RMI will also receive royalties from the future Delmon Plant production. Delmon and RMI expect to commission the new facility in January, 2018.


http://finance.yahoo.com/news/lithium-americas-subsidiary-hectatone-inc-120000252.html;_ylt=A0SO80cZqDlYEmAAHZ5XNyoA;_ylu=X3oDMTBya2cwZmh2BGNvbG8DZ3ExBHBvcwM1BHZ0aWQDBHNlYwNzcg--

Not a big deal. but glad the Nevadans are still hanging in there.