Galan Lithium (ASX: $GLN) announces A$14 million capital raise for HMW Phase 1

Galan Lithium Limited (ASX: $GLN) has successfully secured firm commitments for an equity raising of A$14 million at A$0.23 per share. The funds will be utilized for the ongoing development of the Hombre Muerto West (HMW) lithium brine project in Argentina, corporate overheads, and working capital.

Executive Commentary on Capital Raise

Galan's Managing Director, Juan Pablo (JP) Vargas de la Vega, expressed his delight with the support for the Placement and welcomed new investors to the register. He also extended gratitude to the shareholders for their continuous support. Vargas de la Vega stated, 'Funds raised from the Placement will allow the Company to further progress negotiations to complete the already advanced development of its 100% owned Hombre Muerto West lithium brine project in Argentina. We look forward to putting investors' funds to work.'

Summary of A$14 million Capital Raise

Galan Lithium Limited (ASX: $GLN) has successfully secured firm commitments for an equity raising of A$14 million at A$0.23 per share. The funds will be used for the ongoing development of the Hombre Muerto West (HMW) lithium brine project in Argentina, corporate overheads, and working capital. The Placement, oversubscribed and not underwritten, will also issue one new unlisted option for every two shares subscribed. The Company's Managing Director, Juan Pablo (JP) Vargas de la Vega, expressed his delight with the support for the Placement and welcomed new investors to the register. The Company aims to utilize the raised funds to further progress negotiations to complete the advanced development of its 100% owned Hombre Muerto West lithium brine project in Argentina.