Galan Lithium

At-the-Market Raise

Galan Lithium Limited (ASX:GLN) (Galan or the Company) is pleased to announce that it has utilised its At-the-Market Subscription Agreement (ATM) with Acuity Capital (see announcements on 12 April 2024, 14 May 2024, 11 June 2024, 12 July 2024, 15 July 2024, 2 August 2024 and 15 August 2024) to raise $600,000 (inclusive of costs) through the set-off of 4,800,000 Galan collateral shares previously issued to Acuity Capital under the ATM (Set-off Shares).


The Set-off Shares reduce the 15,000,000 Galan collateral shares that Acuity Capital is otherwise required to return to the Company upon termination or maturity of the ATM.

The Set-off Shares have a deemed price of $0.1250 per share, being a 7.1% discount to the 15- day VWAP of $0.1346 to 30 August 2024 (inclusive).

The funds raised will be put towards working capital.


Click here for the full ASX Release

This article includes content from Galan Lithium, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

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