Ontario Superior Court of Justice Grants Approval for Lithium One Plan of Arrangement

Lithium One Inc.(TSXV:LI) reported receiving final approval from the Ontario Superior Court of Justice for its plan of arrangement with Galaxy Resources Limited and Galaxy Lithium One. The Company received the receipt of approval after a shareholder meeting on June 18, 2012.

As quoted in the press release:

Receipt of the Final Order follows the Company’s special meeting of securityholders held on June 18, 2012 wherein the special resolution approving the Arrangement was approved by the Lithium One securityholders. The Arrangement is expected to close on or about July 3, 2012. Pursuant to the terms of the Arrangement, the shares of Lithium One will then be de-listed from the TSX-V.

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