LITHIUM AFRICA CORP. ANNOUNCES UPSIZE IN PRIVATE PLACEMENT TO C$8.5M WITH LEAD ORDER FROM PURPOSE GLOBAL RESOURCE FUND

Executive Summary

• Lithium Africa Corp. upsized its previously announced best‑efforts private placement from C$5.0 M to C$8.5 M due to strong investor demand.
• The offering will sell 4,250,000 units at C$2.00 per unit (each unit = 1 common share + ½ warrant) with an optional additional 750,000 units for up to C$1.5 M.
• Net proceeds are earmarked as partial consideration for the acquisition of the Springbok Project and for working‑capital/general corporate purposes.

Key Details

• Offering Size: Increased to aggregate gross proceeds of C$8.5 million (up from C$5.0 M).
• Lead Order: Approximately C$3.3 million committed by Purpose Global Resource Fund.
• Units Offered: 4,250,000 units at C$2.00 per unit; each unit consists of one common share and half a common‑share purchase warrant.
• Warrant Terms: Each warrant allows purchase of one Common Share at an exercise price of C$2.80, exercisable for three years after closing.
• Agent Option: ATB Cormark Capital Markets may sell up to an additional 750,000 units at the same price, adding C$1.5 M gross proceeds.
• Commission & Broker Warrants: Agent receives a 7.0% cash commission on gross proceeds plus broker warrants equal to 7.0% of units sold; each broker warrant permits purchase of one Common Share at the offering price for two years post‑closing.
• Use of Proceeds:
• Partial consideration for acquisition of the Springbok Project (refer to Feb 25 2026 release).
• Working capital and general corporate purposes.
• Closing Date: Expected on or about March 18 2026, subject to regulatory approvals and TSX Venture Exchange acceptance.
• Regulatory Notes: Offering made under private‑placement exemptions; securities not registered in the United States and cannot be offered there.

Notable Quotes

• “The strong investor demand underscores confidence in our growth strategy and provides essential capital to advance the Springbok acquisition and broader corporate objectives.” – Tyron Breytenbach, CEO & Director, Lithium Africa Corp.