30 April 2014
GALAXY SIGNS BINDING AGREEMENT
FOR SALE OF 100% OF JIANGSU
HIGHLIGHTS
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Binding Share Purchase Agreement si
gned with Sichuan Tianqi Lithium I
ndustries Inc. for the sale of
100% of the Jiangsu Lithium Carbonate plant in China,
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Transaction based on an enterprise value of US$230
million (approximately A$249 million), comprising
cash consideration of US$122milli
on (approximately A$132 million) and assumption of all Chinese debt,
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On closing Galaxy to have pro forma positive
net cash of approximately A$62 million,
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Galaxy to maintain industry focus and concentrate on th
e Sal de Vida lithium brine project in Argentina.
Win a few. Lose a few.
Only the long term counts.
