Galaxy Resources

Canaccord Genuity acts as Lead Manager and Bookrunner to a AUD$61 million private placement for Galaxy Resources Limited

Canaccord Genuity is pleased to announce the completion of a placement of 113 million shares at an issue price of AUD$0.54 per share, raising gross proceeds of AUD$61 million on behalf of Galaxy Resources Limited (ASX.GXY). Canaccord Genuity acted as Lead Manager and Bookrunner to the transaction which had significant demand from both new and existing, domestic and international shareholders.

The proceeds of the placement, together with existing funds available to Galaxy, will serve primarily to strengthen the Company’s balance sheet and increase funding flexibility in order to progress development at their Sal de Vida and James Bay projects, as well as for general corporate purposes.

Galaxy Resources is an ASX listed global pure-play lithium company with production facilities, hard rock mines and brine assets across Australia, Argentina and Canada. It owns the Mt Cattlin spodumene and tantalum project near Ravensthorpe in Western Australia and is working towards development of its Sal de Vida lithium brine project in Argentina.