The Entitlement Offer was well supported by Eligible Shareholders who applied for 60,198,783 shares plus all of the shortfall offer of 66,468,031 shares.
The Company advises that the results of the Entitlement Offer were as follows:
Shares
Proceeds
Total number of shares offered under the
Entitlement Offer
126,666,814
$13,300,015
Total number of shares applied for by Eligible
Shareholders under the Entitlement Offer
60,198,783
$6,320,872
Total number of shortfall shares applied for by Eligible Shareholders under the Entitlement
Offer
66,468,031
$6,979,143
Total Shares to be issued under the
Entitlement Offer
126,666,814
$13,300,015
The shares under the Entitlement Offer will be issued on 17 October 2024.
Galan’s Managing Director, Juan Pablo (JP) Vargas de la Vega, commented:
“On behalf of the Board, I’d like to sincerely thank our shareholders for their continued support to achieve this outstanding result. To raise $13.3 m in a challenging market is strong validation of Galan’s HMW project in Argentina.
Galan continues to move forward with the development of HMW and remains upbeat about the future of the lithium market.”
The Galan Board has authorised this release.
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