On January 25, 2022, Lithium Americas Corp. completed its acquisition of Millennial Lithium Corp. pursuant to a court-approved plan of arrangement under the Business Corporations Act (British Columbia), for approximately $491 million.

Pursuant to the arrangement, Lithium Americas acquired 100 per cent of the issued and outstanding shares of Millennial and Millennial shareholders received 0.1261 of a common share of Lithium Americas and $0.001 in cash in exchange for each Millennial share held. The share ratio was calculated by valuing the Lithium Americas shares at a price equal to the volume-weighted average share price of Lithium Americas for the 20 trading days ending two business days prior to closing, and by valuing the Millennial common shares at a price of $4.70 per share. Lithium Americas issued an aggregate of approximately 13,200,000 common shares.

As a result of the arrangement, Millennial shares and warrants were delisted from the TSX Venture Exchange on January 26, 2022.