Lithium Africa closes $8.82-million financing

Mr. Tyron Breytenbach reports LITHIUM AFRICA CLOSES $8.8 MILLION BROKERED PRIVATE PLACEMENT OF UNITS Lithium Africa Corp. has closed its previously announced upsized private placement of 4,411,565 units of the company at a price of $2 per unit for gross proceeds of $8,823,130. In connection with the offering, the company is pleased to welcome Purpose Global Resource Fund as a new significant shareholder, having subscribed for approximately $3.3-million, representing 6.7 per cent of the company's issued and outstanding shares following closing, on an undiluted basis. Each unit consisted of one share in the capital of the company and one-half of one share purchase warrant. Each warrant entitles the holder thereof to purchase one additional unit share at an exercise price of $2.80 per warrant share for a period of three years following the closing of the offering. ATB Cormark Capital Markets acted as the agent in connection with the offering. The net proceeds from the sale of the units will be used as partial consideration in connection with the acquisition of the Springbok project and for working capital and general corporate purposes. An overview of the Springbok project and the transaction terms are provided in the company's news release dated Feb. 25, 2026. Pursuant to an agency agreement among the company and the agent dated March 18, 2026, the company: (i) paid a cash fee of approximately $587,708 to the agent; and (ii) issued 293,854 broker warrants to the agent. Each broker warrant is exercisable into one common share of the company at the offering price for a term of two years expiring on March 18, 2028. The offering was completed pursuant to applicable exemptions from prospectus requirements under applicable securities laws. The units were also offered for sale in the United States pursuant to available exemptions from the registration requirements under the U.S. Securities Act of 1933, as amended. The units, unit shares and warrants issued pursuant to the offering are subject to a statutory hold period in Canada expiring four months and one day expiring on July 19, 2026. The offering remains subject to the final acceptance of the TSX Venture Exchange. Two insiders of the company have subscribed for 20,000 units ($40,000) of the offering. The participation by the two insiders constitutes a related party transaction as defined under Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. Such participation is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of the units acquired by the insider, nor the consideration for the units paid by such insider, exceed 25 per cent of the company's market capitalization. About Lithium Africa Corp. The company has an established 50/50 joint venture partnership with GFL International Co. Ltd. to jointly advance exploration in Africa (the LAR-GFL joint venture (JV)) and, through the LAR-GFL JV, the company has an indirect 50-per-cent interest in a portfolio of exploration assets in hardrock pegmatite districts across a number of prospective African regions covering South Africa, Ivory Coast, Guinea, Mali and Zimbabwe. We seek Safe Harbor.