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Article: Galaxy Resources Limited (ASX:GXY) Successful Completion Of A$65 Million Institutional Capital Raising
- Article from:
- abnnewswire.net
- Article date:
- October 7, 2009
- Author:
CopyrightCopyright 2009 ABN Newswire. (Hide copyright information)
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Emerging lithium producer, Galaxy Resources Limited (ASX:GXY)(PINK:GALXF), today announced the successful completion of an institutional capital raising of A$65 million as part of the funding process for the Mt Cattlin mine at Ravensthorpe and the Jiangsu Lithium Carbonate Project in China.
The Company will place 51 million Shares to sophisticated and institutional investors at a fixed issue price of A$1.28, which is approximately the 30 day average trading price on ASX immediately prior to launching the capital raising roadshow on 11 September 2009. The placement is subject to shareholder approval, at an Extraordinary General Meeting on 14 October 2009.
The joint lead managers of the ...