PERTH, Australia, Dec. 5, 2013 /CNW Telbec/ - Galaxy Resources Limited
(ASX:GXY) ("Galaxy" or the "Company"), announces that it has given notice to
Computershare Investor Services Inc to close the Company's Canadian Ordinary
Share Register ("Canadian Register") held by Computershare Canada. The
effective date of the termination and closing of the Canadian Register is 28
As a result, no further share movements can occur between the Canadian and
Australian registers after 28 February 2014 and all shares remaining on the
Canadian Register will be automatically transferred to the Australian Ordinary
Share Register ("Australian Register").
Galaxy's shares do not trade on a Canadian securities exchange, and the shares
held on the Canadian Register represent less than 3% of Galaxy's issued
capital. As such, the Company has initiated the move to reduce administrative
time and cost.
No change will occur to Galaxy's ordinary shares on the ASX, which will
continue to be listed and trade as normal. The Branch Register for
Exchangeable Shares will continue to be maintained in Canada.
Implications for shareholders on the Canadian branch register only
Prior to the closing of the Canadian Register, shareholders currently on that
register can request to have their shareholdings transferred to the main
register maintained by Computershare in Australia.
CDS participants, or if shares are held by a broker, the CDS
participant/broker must complete and submit the Register Removal Request -
Canada to Australia or have the removal request submitted via Computershare's
proprietary xSettle(©) system. Registered shareholders must submit share
certificates and a Register Removal Request - Canada to Australia. These forms
may be obtained from Computershare, via their website at www.computershare.com
(located within Investor Centre).
If a registered shareholder or Canadian CDS Participant on the Canadian
Register does not activate a move to the Australian Register by 28 February
2014 (by instructing their broker to do so), their Canadian share positions
will be cancelled and their Galaxy shares will be moved onto the Australian
Register. CDS Participants/Shareholders whose shares are moved to the
Australian Register will be sent an Issuer Sponsored Holding statement,
representing their shareholding on the Australian Register.
Shareholders who hold their shares through a Canadian broker are encouraged to
contact their broker. Registered shareholders on the Canadian Register can
contact Computershare Canada, the Company's Canadian share registry for
The Global Transaction Unit at 1-781-575-4086 or toll free in Canada and the
US at 1-866-277-2086.
About Galaxy (ASX: GXY)
Galaxy Resources Ltd ("Galaxy") is an Australian-based global lithium company
with lithium production facilities, hard rock mines and brine assets in
Australia, China, Canada and Argentina. The Company is a lithium producer
listed on the Australian Securities Exchange (Code: GXY).
Galaxy has built an advanced and fully-automated Lithium Carbonate production
facility in Jiangsu Province, China ("Jiangsu Plant"). The Jiangsu Plant has a
name-plate capacity of 17,000 tpa, is primarily focused on producing battery
grade lithium carbonate, and is aiming to become the largest producer in the
Asia Pacific region and the fourth largest in the world.
Galaxy is currently advancing plans to develop the Sal de Vida Lithium and
Potash Brine Project ("Sal de Vida") in Argentina, which is situated in the
Lithium Triangle, a region where Chile, Argentina and Bolivia meet, and
presently accounts for 60% of global lithium production. Sal de Vida has
excellent promise as a future low cost production facility.
The Company also owns the Mt Cattlin Spodumene Mine near Ravensthorpe in
Western Australia and the James Bay Lithium Pegmatite Project in Quebec,
Lithium compounds are used in the manufacture of ceramics, glass, electronics
and are an essential ingredient in producing battery materials such as cathode
and electrolyte, in the manufacture of long life lithium-ion batteries, which
are used in consumer electronics, power tools, electric bikes, hybrid and
electric vehicles. Anticipating the growing demand in coming years, Galaxy is
positioning itself to become a major producer of lithium products.
Caution Regarding Forward Looking Information.
This document contains forward looking statements concerning Galaxy.
Forward-looking statements are not statements of historical fact and actual
events and results may differ materially from those described in the forward
looking statements as a result of a variety of risks, uncertainties and other
factors. Forward-looking statements are inherently subject to business,
economic, competitive, political and social uncertainties and contingencies.
Many factors could cause the Company's actual results to differ materially
from those expressed or implied in any forward-looking information provided by
the Company, or on behalf of, the Company. Such factors include, among other
things, risks relating to additional funding requirements, metal prices,
exploration, development and operating risks, competition, production risks,
regulatory restrictions, including environmental regulation and liability and
potential title disputes.
Forward looking statements in this document are based on Galaxy's beliefs,
opinions and estimates of Galaxy as of the dates the forward looking
statements are made, and no obligation is assumed to update forward looking
statements if these beliefs, opinions and estimates should change or to
reflect other future developments.
Not For Release in US
This announcement has been prepared for publication in Australia and may not
be released in the U.S. This announcement does not constitute an offer of
securities for sale in any jurisdiction, including the United States, and any
securities described in this announcement may not be offered or sold in the
United States absent registration or an exemption from registration under the
United States Securities Act of 1933, as amended. Any public offering of
securities to be made in the United States will be made by means of a
prospectus that may be obtained from the issuer and that will contain detailed
information about the company and management, as well as financial statements.
SOURCE Galaxy Resources Limited
Corporate Andrew Meloncelli Company Secretary Galaxy Resources Ltd
Tel (office): +61 (0) 8 9215 1700 Email:firstname.lastname@example.org
Media Contact Shane Murphy FTI Consulting Tel (office): +61 (0) 8 9485
8888 Tel (mobile): + 61 (0) 420 945 291 Email:email@example.com
To view this news release in HTML formatting, please use the following URL:
CO: Galaxy Resources Limited
NI: MNG CHM FIN
-0- Dec/05/2013 01:50 GMT
Press spacebar to pause and continue. Press esc to stop.