Many companies do reverse splits. Some separate into separate Entities... Neither is good IMHO... Especially in an environment right now reminiscent of 1978 + and in a time when the USA is not as it was back in 1978 with industry... Like my regional bank recently, closing down more branch offices, consolidating for financial strength, merging, etc... Not separating ???
Lithium Americas Announces Intention to Separate into Two Leading Lithium Companies
November 3, 2022 - Vancouver, Canada: Lithium Americas Corp. (TSX: LAC) (NYSE: LAC) ("Lithium Americas" or the "Company") is pleased to announce that, after months of review by the Company, along with its advisors and the Board of Directors, it intends to advance a reorganization that will result in the separation of its North American and Argentine business units into two independent public companies (the “Separation”). The Separation will establish two separate companies that include:
An Argentina focused lithium company (“Lithium International”) owning Lithium Americas’ current interest in its Argentine lithium assets, including the near-production Caucharí-Olaroz lithium brine project in Jujuy, Argentina (“Caucharí-Olaroz”); and
A North America focused lithium company (“Lithium Americas (NewCo)”) owning the Thacker Pass lithium project in Humboldt County, Nevada (“Thacker Pass”) and the Company’s North American investments.
“Following a comprehensive review of the merits of separating Lithium Americas into two public entities, we have reinforced our beliefs that separating the North American and Argentine businesses will facilitate unlocking the full potential of their significant asset base to deliver maximum value to our shareholders and other stakeholders,” said Jonathan Evans, President and CEO. “Upon completion of the Separation, Lithium Americas shareholders will retain ownership in two leading lithium businesses – one of the largest known lithium developments in North America, which is central to the U.S. domestic supply chain, and a near-term producing portfolio with significant growth from two high-quality projects in Argentina.”
