Galan Lithium's response to EnergyX's proposal

Galan Lithium Limited (ASX: $GLN) has clarified that it has received an unsolicited, confidential, conditional, non-binding indicative proposal from Energy Exploration Technologies, Inc. (EnergyX) regarding the potential acquisition of its Argentinian lithium assets. The proposal includes a cash offer of US$50 million and common shares in EnergyX valued at US$50 million, along with additional commitments for the first commercial phase of lithium production and a gross revenue royalty to Galan for 10 years.

Executive commentary on the proposal

Galan Lithium Limited has not received a takeover bid but has been presented with a conditional proposal from Energy Exploration Technologies, Inc. The proposal, while non-binding, outlines the potential acquisition of Galan's Argentinian lithium assets. We are in the process of negotiating a confidentiality agreement with EnergyX and will continue to keep our shareholders informed in accordance with our continuous disclosure obligations.

Summary of the proposal and outlook

Galan Lithium Limited (ASX: $GLN) has responded to an unsolicited proposal from Energy Exploration Technologies, Inc. for the potential acquisition of its Argentinian lithium assets. The proposal, although conditional and non-binding, includes a cash offer, common shares in EnergyX, and commitments for the first commercial phase of lithium production, along with a gross revenue royalty to Galan for 10 years. The company emphasizes that there is no certainty a transaction will occur, and any binding agreement would be subject to Galan shareholder approval. Galan reaffirms its commitment to compliance with ASX Listing Rules and will continue to provide updates to its shareholders as the situation develops.