Skip to content
Finance Investment, Oil Mining Resources

Galan Lithium Limited (ASX: GLN) – A$14 Million Capital Raise For Continued Ongoing Development of HMW Phase 1

Galan Lithium Limited (ASX: GLN) < 1 mins read
  • Galan has received firm commitments to raise A$14 million at A$0.23 per share
  • Strong support received from offshore and domestic institutional and sophisticated investors, with the Placement oversubscribed
  • Funds will be used for the further development of the Hombre Muerto West lithium brine project (HMW) in Argentina, corporate overheads and working capital

Galan Lithium Limited (ASX: GLN) (Galan or the Company) is pleased to announce that it has received firm commitments for an equity raising of A$14 million to institutional, sophisticated and professional investors (Placement) at A$0.23 per share.

The equity raising will provide working capital headroom and financial flexibility for the ongoing development of the Hombre Muerto West (HMW) Phase 1 construction whilst Galan finalises negotiations of alternative funding solutions including debt and prepayment facilities that will enable completion of HMW Phase 1. Proceeds from the Placement will be applied to: 

  • HMW phase 1 developments costs; and
  • Corporate overheads, working capital and transaction costs

Galan’s Managing Director, Juan Pablo (JP) Vargas de la Vega, commented: “We are delighted with the support for the Placement and welcome a number of new investors to the register. In addition, on behalf of the Board of Directors, I would like to thank our shareholders for their ongoing support."


Contact details:

Jane Morgan

jm@janemorganmanagement.com.au

Media

More from this category

  • Finance Investment
  • 21/06/2024
  • 19:52
BTCC Exchange

BTCC Exchange Celebrates 13 Years with Major Milestones and Exciting New Features

VILNIUS, Lithuania, June 21, 2024 (GLOBE NEWSWIRE) -- BTCC Exchange, a leading global cryptocurrency platform, proudly celebrates its 13th anniversary this June, marking over a decade of innovation and commitment to the community. The exchange has achieved major milestones in registered users and trading volume and has new features in store for its users.A Media Snippet accompanying this announcement is available by clicking on this linkIn its 13th year, BTCC reached significant milestones, witnessing its 4th Bitcoin halving with futures trading volume hitting 16.2 billion USDT on April 20, 2024, from a total registered user base of 2.8 million. To…

  • Finance Investment
  • 20/06/2024
  • 23:52
Intech

Intech Launches U.S. Small-Mid Cap Enhanced Plus Strategy with Over a Half Billion in Initial Funding

WEST PALM BEACH, Fla., June 20, 2024 (GLOBE NEWSWIRE) -- Intech, a global quantitative equity manager, proudly announces the launch of its U.S. Small-Mid Cap (SMID) Enhanced Plus strategy, backed by a substantial initial investment exceeding half a billion dollars. This new mandate underscores Intech’s sustained growth and strategic innovation, setting Intech U.S. Small-Mid Cap Enhanced Plus strategy apart from competitors with its unique approach and competitive fee structure.1Key Differentiators in a Competitive MarketDistinctive Alpha Source: Aims to use stock price volatility and correlations to deliver an uncorrelated alpha source for portfolios.Enhanced Indexing: Moderate, systematic deviations from the index seek…

  • Oil Mining Resources
  • 20/06/2024
  • 19:22
Robex Resources Inc.

Robex Announces Filing of Prospectus Supplement and Amendment To Bridge Facility

QUEBEC CITY, June 20, 2024 (GLOBE NEWSWIRE) -- Robex Resources Inc. (TSXV: RBX) (“Robex” or the “Company”) is pleased to announce that it has filed a prospectus supplement (the "Supplement") to its short form base shelf prospectus dated July 20, 2023 (the "Base Shelf Prospectus") with respect to its previously announced “best efforts” public offering of 50,691,200 units of the Company (each, a “Unit”) at a price of $2.17 per Unit for gross proceeds of $109,999,904. All currency amounts in this news release are stated in Canadian dollars, unless otherwise indicated.The Supplement has been filed with the securities regulatory authorities…

Media Outreach made fast, easy, simple.

Feature your press release on Medianet's News Hub every time you distribute with Medianet. Pay per release or save with a subscription.