Galaxy Resources Limited Launches One for One Non-Renounceable Pro Rata Offer

Galaxy Resources Limited (ASX:GXY) announced that they have launched a $46.7 million capital raising through a one for one non-renounceable pro rata offer to eligible shareholders.

As quoted in the press release:

The proceeds of the capital raising will be used for Galaxy’s working capital which includes:

corporate working capital (including interest payments);
Offer costs;
Sal de Vida Lithium and Potash Brine Project costs; and
debt reduction.

To view the whole press release, click here.