Galan Lithium Limited (ASX:GLN) (Galan or the Company) is pleased to announce that it has utilised its At-the-Market Subscription Agreement (ATM) with Acuity Capital (see announcements on 12 April 2024, 14 May 2024, 11 June 2024, 12 July 2024, 15 July 2024 and 2 August 2024) to raise $1,100,000 (inclusive of costs) by agreeing to issue 9,000,000 fully paid ordinary GLN.ASX shares to Acuity Capital at an issue price of $0.1222 per share.
The 9,000,000 Galan shares will be issued out of the Company’s LR7.1A capacity. The issue price of $0.1222 represents a discount of 9.3% to the 15-day VWAP of $0.1348 to Thursday 15 August 2024 (inclusive).
The funds raised will be put towards working capital. An Appendix 2A will follow.
The Galan Board has authorised this release.
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