Galan Lithium Limited (ASX:GLN) is conducting a pro rata non-renounceable Rights Issue to Eligible Shareholders, offering one (1) New Share for every four (4) existing Shares held at an issue price of $0.105 per New Share. The company aims to raise approximately $13,300,015 before costs. The Offer opens on September 18, 2024, and closes at 5:00pm (WST) on October 3, 2024. Shareholders are also eligible to apply for Shortfall Shares in addition to their entitlement. It is important for Eligible Shareholders to review the Offer Document in its entirety before making any investment decision.
The Offer presents an opportunity for our Eligible Shareholders to participate in the further construction and development of our HMW Project, as well as contribute to our corporate costs, general working capital, and meeting the costs of the Offer. We encourage our Shareholders to carefully review the Offer Document and consider their options. The indicative timetable, entitlements and acceptance, capital structure, dilution, and pro forma statement of financial position are provided in the announcement for their reference.
Galan Lithium Limited (GLN) is offering a pro rata non-renounceable Rights Issue to raise approximately $13.3 million through the issuance of New Shares at an issue price of $0.105 each. The company has outlined various risk factors associated with its business and advised investors to consider all relevant information, consult professional advisors, and assess their own objectives, financial situation, and needs before making an investment decision. Shareholders are also provided with instructions on how to accept the Offer, make payments, and apply for Shortfall Shares. It is important for potential investors to carefully consider the risks outlined and seek professional advice before making any investment decisions.