[Ganfeng Lithium: Ganfeng International and LAR to Jointly Consolidate Joint Venture] Ganfeng Lithium announced that GFL International Co., Ltd., a wholly-owned subsidiary of Jiangxi Ganfeng Lithium Group Co., Ltd., and Lithium Argentina AG plan to consolidate Millennial Lithium Corp as a joint venture by injecting three lithium salt lake assets—PPG, PG, and Puna—into Millennial for the joint development of Argentina's Pozuelos-Pastos Grandes salt lake basin. As part of the transaction, the company or its subsidiary agreed to provide LAR with financial assistance of up to $130 million using its own funds, with LAR pledging its equity in the consolidated Millennial as collateral. The financial assistance will primarily support LAR's funding needs, including the construction and development of the consolidated PPGS lithium salt lake project or other mutually agreed purposes. The transaction is subject to approval by relevant government authorities and carries the risk of not being approved.
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