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Old 07-04-2012, 06:41 AM
Sparty Sparty is offline
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Default Galaxy completes journey to become a GLOBAL lithium company

COMPLETION OF MERGER TO FORM A GLOBAL LITHIUM COMPANY
Galaxy Resources Limited (ASX: GXY, ?Galaxy?) is pleased to advise that the plan of arrangement with Lithium One Inc (TSX-V: LI, ?Lithium One?) has been successfully completed. Following the completion of the Arrangement, an application was filed to have the Lithium One Common Shares de-listed from the TSX-V.

Galaxy Managing Director, Iggy Tan, said that Galaxy has now boosted its global lithium resource base and become a major global lithium company with assets in Australia, China, Canada and Argentina.

?Galaxy will require more lithium resources over the next few years, and Sal de Vida along with James Bay has added to our existing Australian resource inventory. Together with our China processing assets we now have ample resources to continue to grow the lithium business and drive the long term value of the company.

With Galaxy?s expertise across project development and lithium mining, processing and marketing, we would be able to fast track development of Sal de Vida as we did at our Mt Cattlin lithium mine and Jiangsu lithium carbonate plant.?
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