Galan Lithium

At-The-Market Raise

Galan Lithium Limited (ASX:GLN) (“Galan” or “the Company”) is pleased to announce that it has utilised the At-the-Market Subscription Agreement (“ATM”) with Acuity Capital (see announcement dated 12 April 2024) to raise $2,250,000 (inclusive of costs) through the set-off of 7,950,000 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 $0.283 per share, being a 5.7% discount to the last close price of $0.30 on 14 May 2024.

The funds raised will be put towards the further development of the Hombre Muerto West lithium brine project in Argentina and 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.

GLN:AU
Galan Lithium

Galan Lithium Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

The Conversation (0)
Galan Lithium

Galan Lithium


Keep reading...Show less
  Metals Australia Ltd

Warrego East Drilling Permitted as Takeover Action Underlines Prospectivity of Tennant Creek Mineral Field

- Metals Australia exploring the Warrego East Copper-Gold project as London-listed Pan African Resources acquires holder of adjacent tenement in an $82M deal

Metals Australia Ltd (ASX: MLS) (“the Company”) is pleased to announce that its Mine Management Plan for the upcoming field exploration program at the Warrego East copper-gold project in the Tennant Creek Mineral Field has been authorised by the Northern Territory Government (Refer to Figure 1 and 2). Weather permitting, the field exploration program will be scheduled as soon as a land holder access agreement is finalised.

Keep reading...Show less
A green battery surrounded by rings.

Livium Secures Funding for Battery Recycling Facility

Livium (ASX:LIT) subsidiary Envirostream Australia has been granted AU$850,000 under Western Australia’s electronic waste infrastructure grant funding program.

Previously known as Lithium Australia, Livium is Australia's “first onshore company” for lithium and mixed battery recycling.

Since its inception in 2017, the company has been developing safe and innovative management solutions to address lithium-ion battery recycling, one of Australia’s biggest problems concerning waste.

“This grant from the WA government represents a meaningful step forward in our mission to establish a sustainable national battery recycling ecosystem,” Livium CEO and Managing Director Simon Linge commented in the release.

Keep reading...Show less
Lithium Universe

Successful Completion of Tranche 1 Share Placement

Lithium Universe Limited (referred to as "Lithium Universe" or the "Company," ASX: "LU7”) is pleased to announce that further to its announcement dated 31 October 2024 (ASX:LU7 LU7 Completes Share Placement and Launches Entitlement Offer) (Announcement), it has now settled the first tranche of its share placement to sophisticated and professional investors (Tranche 1).

Keep reading...Show less
Red Tesla electric vehicle with lithium-ion battery icon in corner.

Where Does Tesla Get its Lithium? (Updated 2024)

As the energy transition continues to unfold, US electric vehicle (EV) pioneer Tesla (NASDAQ:TSLA) has been making moves to secure supply of the raw materials it needs to meet its production targets.

Lithium in particular has been top of mind for CEO Elon Musk. Back in 2020, the battery metal had a spotlight moment at Tesla’s Battery Day, when Musk shared that the company had bought tenements in the US state of Nevada, and was looking for a new way to produce lithium from clay — a process yet to be proven at commercial scale.

Lithium prices went on to hit all-time highs, but swiftly declined last year and continuing on a downward trend in 2024. Prices for other key battery metals have also decreased as EV sales growth has fallen across most global markets in the face of economic uncertainty and higher interest rates. According to Goldman Sachs research, EV battery costs are at record lows and are forecasted to fall by 40 percent between 2023 and 2025.

Keep reading...Show less
Galan Lithium

Galan Lithium Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

Latest Press Releases

Related News

×