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Lithium Americas Announces $250 Million Strategic Investment from Orion Resource Partners for Thacker Pass

Deals & Cases

Vinson & Elkins advised Lithium Americas Corp. (the “Company”) in a $250 million strategic investment from Orion Resource Partners LP (“Orion”) to fund the development and construction of Phase 1 of the Thacker Pass Project in Nevada, expected to be completed by late 2027.

The investment consists of a commitment to (i) purchase $195 million of the Company’s senior unsecured convertible notes (the “notes”), (ii) enter into a Production Payment Agreement whereby Orion will pay $25 million to the Company in exchange for payments corresponding to the minerals processed and revenue generated by the Thacker Pass Project, and, (iii) subject to the satisfaction of certain conditions precedent, purchase an additional $30 million in notes within two years.

The Vinson & Elkins team was led by partners Ben Heriaud and Jackson O’Maley, with assistance from senior associate Layton Suchma and associates Nick Wetzeler, John Frey, Shelby Shearer, Lauren Perillo, Hannah Avery, and Waleed Vohra. Also advising were partner Eamon Nolan, senior associate Maria Borges, and associates Andrew Chang and Dan Lee; partner Robert Hughes, counsels Austin White and Bader Thabti, and associate Christina Wu; partners David Peck and Wendy Salinas and associate Paige Melton; counsel Alex Bluebond; partner Shane Tucker and associate Matt Green; partner Michael Kurzer, senior associate Haley Titcomb, and associate Sean Dao; partners Matthew Dobbins and Brandon Tuck and senior associate Kelly Rondinelli; counsel Elizabeth Krabill McIntyre; and partner Brian Howard.

About Vinson & Elkins
For more than a century, Vinson & Elkins has provided outstanding client service across important industries that drive the global economy. Built on a strong culture of collaboration across 14 offices worldwide, V&E lawyers are committed to excellence, offering clients decades of legal experience in handling transactions, investments, projects and disputes across the globe. Learn more by visiting www.velaw.com or connect with us on LinkedIn.

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