VANCOUVER, BRITISH COLUMBIA–(Marketwired – May 2, 2016) – Lithium Americas Corp. (the “Company” or “LAC”) (TSX:LAC)(OTCQX:LACDF) is pleased to announce that Dr. David S. Deak has joined the Company as Chief Technical Officer (“CTO”) and Senior Vice President, and President of its subsidiary Lithium Nevada Corp. (“LNC”). Dr. Deak holds a D.Phil. in Materials Science from Oxford University and is well-known within the lithium and battery materials industry. He has diverse experience, predominantly in technology development and commercial roles. Most recently, he led strategic development projects focused on battery manufacturing and supply chain activities, including lithium supply.
The Company’s CEO Tom Hodgson commented, “David is widely respected throughout the global lithium supply chain. He has the technical insight, commercial experience, and industry relationships required to advance the Lithium America’s mission, including the Nevada clay project. We expect to benefit from David’s leadership in his role as the corporate CTO and contributions to our recently-announced Joint Venture with SQM for the Cauchari-Olaroz project in Argentina. We have also asked David to lead the development efforts for our Nevada-based project, which represents one of the largest lithium resources in North America, and remains an important corporate priority.”
Dr. Deak commented, “I am thrilled to join the executive team at LAC. The Company is on an important mission, and is well positioned to play a critical role in enabling sustainable transportation. The Company’s commitment to advancing its lithium projects comes at a time when the market requires additional sources of lower cost lithium supply. I have known the principals at LAC for several years, and they have consistently demonstrated a creative approach to solutions in both processing technologies and collaborative business structures.”
The Company’s President and Vice Chairman John Kanellitsas commented, “Today’s announcement caps a very busy period which has resulted in a Joint Venture with SQM for the Cauchari-Olaroz project in Argentina and a MOU with TOLSA for global distribution of Hectatone products in Nevada. David’s appointment rounds out our executive team and provides additional executive bandwidth and new perspective as we advance development and sales plans for our three business units.”
About the Company
The Company is developing the Cauchari-Olaroz lithium project, located in Jujuy province, Argentina, and the Lithium Nevada project (formerly Kings Valley project) in Nevada, U.S.A, with the intent to become a major supplier of lithium products. In addition, Lithium Americas is a supplier of specialty drilling additives, Hectatone™ and other organoclay products for the oil and gas and other industries.
Forward-looking statements
Statements in this release that are forward-looking information are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in the company’s periodic filings with Canadian securities regulators. When used in this document, the words such as “expect,” “believe,” “planned,” “scheduled,” “targeting” and similar expressions is forward- looking information. Information provided in this document is necessarily summarized and may not contain all available material information.
All such forward-looking information and statements are based on certain assumptions and analyses made by Lithium Americas management in light of their experience and perception of historical trends, current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances. These statements, however, are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information or statements. Important factors that could cause actual results to differ from these forward-looking statements include those described under the heading “Risks Factors” in the Lithium America’s most recently filed MD&A. The Company does not intend, and expressly disclaims any obligation to, update or revise the forward-looking information contained in this news release, except as required by law. Readers are cautioned not to place undue reliance on forward-looking information or statements.
