Galaxy closes General Mining takeover
JOHANNESBURG (miningweekly.com) – Lithium miner Galaxy Resources has successfully closed its takeover of its joint venture (JV) partner, General Mining, having secured a relevant interest of 96.74% of the company’s ordinary shares at the close of the offer on Friday.
Galaxy reported this week that it would lodge and send compulsory acquisition notices to acquire all the remaining General Mining shares not accepted into the takeover. Upon completion of this process, General Mining will become a wholly owned subsidiary of Galaxy.
Martin Rowley and Anthony Tse have joined the General Mining board, while Michael Fotios was appointed to Galaxy’s board following the successful closing of the takeover bid.
The two companies are JV partners in the Mt Cattlin project, in Western Australia.
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