Galaxy powers back up today

The lithium producer trades today for the first time in four months after a successful equity capital raising and extending its bond obligations.

Lithium producer Galaxy Resources (GXY) will resume trading today after a four-month hiatus when the stock was suspended to facilitate a major recapitalisation of the company through a one-for-one entitlement offer.

Management announced that it has successfully tapped shareholders for $17.2 million, which is 43% above the minimum amount it was hoping to raise.

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