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Galaxy Resources Announces Strategic Institutional Placements to Raise A$32.5m

16 May 2019  |  09:36:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: A40: $32.5m Strategic Institutional Placements

Alliance Mineral Assets announced that, on 15 May 2019, it entered into separate subscription agreements to raise total gross proceeds of A$32.5m at a price of A$0.20 per placement share (Offer Price) with Galaxy Resources (A$22.5m) (Institutional Placement), and with Weier Antriebe und Energietechnik GmBH, a wholly owned subsidiary of Jiangxi Special Electric Motor (Jiangte) (A$10m) (Conditional Placement) (together, the Placements). The Institutional Placement will comprise the issue of 112,500,000 Shares (Institutional Placement Shares), and the Conditional Placement will comprise the issue of 50,000,000 Shares (Conditional Placement Shares) (collectively, the Placement Shares).

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