Millennial Provides Update Regarding Lithium Americas Arrangement
2022-01-05 04:31:15 PM ET (Newsfile Corp)
Vancouver, British Columbia--(Newsfile Corp. - January 5, 2022) - Millennial Lithium Corp. (TSXV: ML) (FSE: A3N2) (OTCQB: MLNLF) ("Millennial" or the "Company") is pleased to announce that at the Company's special meeting of shareholders (the "Shareholders") and warrantholders (the "Warrantholders", and, together with the Shareholders, the "Voting Securityholders") held earlier today (the "Meeting") the Voting Securityholders voted in favour of the special resolution (the "Arrangement Resolution") approving the previously announced plan of arrangement under Section 288 of the Business Corporations Act (British Columbia) pursuant to which Lithium Americas Corp. (TSX: LAC) (NYSE: LAC) is to acquire all of the issued and outstanding common shares of the Company (the "Arrangement").
The Arrangement Resolution was approved by: (i) 98.60% of votes cast by Shareholders; (ii) 98.61% of votes cast by Voti ng Securityholders voting together as a single class; and (iii) 98.31% of the votes cast by Shareholders excluding for this purpose the votes cast by any persons that are required to be excluded under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions. Voting Securityholders holding securities carrying an aggregate of 22,037,250 votes, representing approximately 21.57% of votes entitled to be cast at the Meeting, were represented in person or by proxy at the Meeting.
Additionally, on December 30, 2021, the Commissioner of Competition issued a "no-action" letter, which satisfies the Competition Act approval condition in the Arrangement Agreement.
The Arrangement remains subject to customary closing conditions, including the approval of the Supreme Court of British Columbia. The Arrangement is currently expected to be completed on or about January 25, 2022, provided that the conditions to the Arrangement are s atisfied or waived.
About Millennial
To find out more about Millennial Lithium Corp. please contact Investor Relations at (604) 662-8184 or email info@millenniallithium.com.
About LAC
Lithium Americas is a development-stage company with projects in Jujuy, Argentina and Nevada, United States. Lithium Americas trades on both the Toronto Stock Exchange and on the New York Stock Exchange, under the ticker symbol "LAC".
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