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Galan Lithium Limited: SUCCESSFUL DUE DILIGENCE COMPLETED - $20M PLACEMENT TO PROCEED
The Placement, which was undertaken at a significant premium to the prevailing share price when originally announced, was subject to certain conditions including shareholder approvals (received at a General Meeting held on Friday, 22 August 2025 ) as well as the satisfactory completion by Clean Elements of technical and legal due diligence in respect of the Company and HMW in Argentina.
Clean Elements has advised that all conditions to the Placement have been satisfied. As such, the Placement will now proceed to settlement, providing Galan with the funding required for the finalisation of the HMW Phase 1 construction over the remainder of the 2025 calendar year, with first production of lithium chloride concentrate scheduled for H1 2026.
Settlement will take place in two equal tranches of $10 million . Tranche 1 settlement will occur within the next 5 business days and Tranche 2 of the Placement will settle no later than 22 November 2025 , in line with the timing set out in the relevant shareholder approval.
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View original content:https://www.prnewswire.co.uk/news-releases/galan-lithium-limited-successful-due-diligence-completed---20m-placement-to-proceed-302537461.html