Canada, US and Thai advise Bangchak Corporation on strategic investment in Lithium Corp

July 14, 2017

Client: Bangchak Corporation

We advised Bangchak Corporation Public Company Limited (Bangchak), a Thai-based company listed on the Stock Exchange of Thailand, in connection with its investment (through its subsidiary BCP Innovation Pte Ltd. (BCPI)) in a financing of Lithium Americas Corp. (TSX listed: LAC) for an aggregate amount of approximately US$113 million to advance the construction of LAC’s Cauchari-Olaroz lithium project in Jujuy, Argentina. The transaction comprised of (i) the purchase by BCPI of 50,000,000 common shares of LAC by way of private placement from LAC for an aggregate purchase price of C$42.5 million (C$0.85 per share); (ii) the provision by BCPI of a US$80 million project debt facility to LAC; and (iii) the acquisition by BCPI of certain off-take rights to buy a portion of the lithium carbonate production related to the project. BCPI increased its ownership in LAC to approximately 16.1% of the outstanding common shares of LAC, and has a nomination right on LAC’s board of directors and certain anti-dilution rights. Our Canadian offices led the transaction as Canadian counsel, with assistance from our Bangkok office (Bangchak’s local counsel) and our US team for local mining matters and loan security. The Norton Rose Fulbright team was led by Michael Sabusco (Toronto), Somboon Kitiyansub (Bangkok) and Bob Comer (Denver) and includedGautam Dhillon (Vancouver); Carole Gilbert (Montreal); Aimsarin Jirasatapananon, Niracha Sanguankeo, Thosaphol Thurongkinanonth, Natpakal Rerknithi (Bangkok); Monika Szymanski (New York); and Andrew Elkhoury (Denver).