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Galan Lithium Limited (ASX:GLN)

ALERT: Price-sensitive ASX Announcement for GLN
Current share price for GLN : $0.403 0.298 (283.33%)+
Announcement
Release
18 Sep 2024 9:25AM
Price at Release
$0.105
Full Release
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Summary
Galan Lithium Limited announced an equity raising to raise up to AUD 25 million through a pro-rata non-renounceable entitlement offer of new fully paid ordinary shares at an issue price of $0.105 per share. The offer is available to eligible shareholders from 18 September 2024 to 3 October 2024. Proceeds will be used for the development of the Hombre Muerto West lithium brine project, corporate overheads, and working capital. Eligible shareholders may also apply for additional shares from any pool of New Shares not taken up. The offer is non-renounceable and therefore entitlements will not be tradeable on the ASX or otherwise transferable.
Key Points
  • Galan Lithium Limited announced an equity raising on 10 September 2024.
  • The Entitlement Offer aims to raise up to AUD 25 million.
  • Issue price for the New Shares is set at $0.105 per share.
  • The Entitlement Offer is non-renounceable and non-transferable.
  • Eligible shareholders can apply for additional shares under the Shortfall Offer.
  • The offer is open from 18 September 2024 to 3 October 2024.
  • Proceeds will be used for the development of the Hombre Muerto West lithium brine project, corporate overheads, and working capital.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.