Galaxy Resources Limited (ASX:GXY) Issues Web Proof Information Pack For Proposed Hong Kong Listing
Perth, Feb 28, 2011 AEST (ABN Newswire) - Further to recent announcements of Galaxy Resources Limited (
ASX:GXY) (PINK:GALXF) in relation to its application for a dual listing of its shares on the Hong Kong Stock Exchange, Galaxy is pleased to attach a document known in Hong Kong as the Web Proof Information Pack ("WPIP").
The WPIP was published in Hong Kong as required by The Stock Exchange of Hong Kong Limited and Hong Kong's Securities and Futures Commission solely for the purpose of providing information to investors in Hong Kong. Galaxy is also releasing the WPIP in Australia for the purpose of facilitating equal dissemination of information in the Hong Kong and Australian markets and, to the extent necessary, to meet Galaxy's continuous disclosure obligations. The WPIP does not constitute an offer of shares in Australia and therefore it is not a disclosure document under Chapter 6D of the Corporations Act.
The information contained in the WPIP is incomplete and is subject to changes, which could be material. If the WPIP is updated. Galaxy will release that updated WPIP on ASX.
Galaxy continues to progress its proposed dual listing in Hong Kong and will provide further updates as the process continues over the coming month. Further documentation will be published as it becomes available, including, if an offer of Galaxy shares is made to the public in Hong Kong, a prospectus that would be registered with the Registrar of Companies in Hong Kong.
About Galaxy Resources Limited
Galaxy Resources Limited (ASX:GXY) (OTCMKTS:GALXF) is an international S&P / ASX 200 Index company with lithium production facilities, hard rock mines and brine assets in Australia, Canada and Argentina. It wholly owns and operates the Mt Cattlin mine in Ravensthorpe Western Australia, which is currently producing spodumene and tantalum concentrate, and the James Bay lithium pegmatite project in Quebec, Canada.
Galaxy is advancing plans to develop the Sal de Vida lithium and potash brine project in Argentina situated in the lithium triangle (where Chile, Argentina and Bolivia meet), which is currently the source of 60% of global lithium production. Sal de Vida has excellent potential as a low cost brine-based lithium carbonate production facility.
Lithium compounds are used in the manufacture of ceramics, glass, and consumer electronics and are an essential cathode material for long life lithium-ion batteries used in hybrid and electric vehicles, as well as mass energy storage systems. Galaxy is bullish about the global lithium demand outlook and is aiming to become a major producer of lithium products.
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