Galaxy Resources Plans To Raise A$81 Million

Mining Weekly reported Galaxy Resources (ASX:GXY) plans to raise A$81 million through a share placement plan to reduce debt and provide working capital for the Sal de Vida lithium project.

As quoted in the market news:

Under the two-tranche raising, Galaxy would issue 162.4-million fully paid ordinary shares, at 50c a share, to cornerstone investors M&G Investments and East China Mineral Exploration and Development Bureau (ECE).

The offer price was a 2% premium to the five-day volume-weighted average price of Galaxy shares.

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