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 February 2014.
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
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 further information:
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:
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
The Company also owns the Mt Cattlin Spodumene Mine near Ravensthorpe in
Western Australia and the James Bay Lithium Pegmatite Project in
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
For further information:
Galaxy Resources Ltd
Tel (office): +61 (0) 8 9215 1700
Tel (office): +61 (0) 8 9485 8888
Tel (mobile): + 61 (0) 420 945 291