Western Lithium USA Corporation

Western Lithium USA Corporation

August 05, 2015 07:30 ET

Western Lithium Provides Update on Proposed Merger With Lithium Americas

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 5, 2015) - Western Lithium USA Corporation ("Western Lithium"), (TSX:WLC)(OTCQX:WLCDF) is pleased to announce that on July 30, 2015, Lithium Americas Corp. obtained an interim order from the Ontario Superior Court of Justice approving the mailing of meeting materials and the holding of a special meeting of shareholders of Lithium Americas Corp. ("Lithium Americas") to consider and approve the proposed plan of arrangement under which, among other things, Western Lithium would acquire all of the outstanding common shares of Lithium Americas on the basis of 0.789 of a common share of Western Lithium for each outstanding common share of Lithium Americas. The meeting will be held on August 31.

On August 31, Western Lithium will also be holding a shareholder meeting to consider and approve of the transaction. The record date for the determination of shareholders entitled to receive notice of, and to vote at, the meeting is the close of business on July 27, 2015. The meeting materials, including the proxy circular and form of proxy have now been mailed and are available under Western Lithium's SEDAR profile at www.sedar.com.

About Western Lithium

Western Lithium is developing its Kings Valley, Nevada, lithium deposit into a strategic, scalable and reliable source of high quality lithium products. The company is positioning itself as a major U.S.-based supplier to support the rising global demand for lithium that is expected from the increased use of hybrid/electric vehicles, consumer electronics, and consumer and industrial lithium battery storage applications. In addition, Western Lithium is pursuing the opportunity to be a supplier of specialty drilling additive, Hectatone™ and potentially other organoclays 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.

Statements in this release that constitute forward-looking statements or information include, but are not limited to the timing and results of the shareholder meetings of Western Lithium and Lithium Americas.

All such forward-looking information and statements are based on certain assumptions and analyses made by Western Lithium 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 Western Lithium'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.

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