Lithium Americas Corp (LAC)

[alien42]

Western Lithium Announces Increase in Bought Deal to $7 Million
RENO, NEVADA--(Marketwired - May 20, 2015) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Western Lithium USA Corporation ("Western Lithium", the "Company") (TSX:WLC)(OTCQX:WLCDF) is pleased to announce that it has entered into an amended agreement with Dundee Securities Ltd. together with Haywood Securities Inc. (the "Underwriters") on a "bought deal" basis by way of a short form prospectus, under which the Underwriters have now agreed to purchase 9,250,000 units of the Company (the "Units") at a price of C$0.70 per Unit for aggregate gross proceeds of C$6,947,500 (the "Offering"). The Underwriters have been granted the option to purchase up to an additional 15% of the Offering, exercisable in whole or in part at any time up to 30 days after the closing of the Offering. In the event that the over-allotment option is exercised in its entirety, the aggregate gross proceeds to the Company from the Offering will be approximately C$8 million.

Each Unit shall consist of one common share ("Share") of the Company and one-half of one common share purchase warrant. Each whole common share purchase warrant shall entitle the holder thereof to acquire one Share at a price of C$0.90 for a period of 24 months following the closing of the Offering.

The Offering is scheduled to close on or about June 10, 2015. The Units will be offered in all provinces of Canada (except Quebec) by way of a short form prospectus. The Offering is subject to a number of conditions, including, without limitation, receipt of all regulatory approvals, including the approval of the Toronto Stock Exchange and the applicable securities regulatory authorities.

The net proceeds of the Offering will be used to advance development of the Company's wholly-owned Kings Valley Lithium Project in Nevada and for working capital and general corporate purposes.

This news release does not constitute an offer of securities for sale in the United States. The securities being offered have not been, nor will they be, registered under the Unites States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States absent U.S. registration or an applicable exemption from U.S. registration requirements.