Galaxy merged with Orocobre today and applied for delisting from ASX

SMM Aug. 25: Galaxy Resources Co., Ltd. announced that the merger of Galaxy and Orocobre has been officially implemented today.

According to the terms of the program, all shares in Galaxy have now been transferred to Orocobre,. The newly issued Orocobre shares will be settled in ASX from Thursday, August 26th, 2021.

Currently, Galaxy has applied to be removed from ASX's official list, which is expected to take effect on Thursday, August 26, 2021.

Anthony Tse, former CEO of Galaxy Resources, and Peter Bacchus, head of the company's audit and risk committee, have retired from the company's board of directors since August 25. Martin Rowley, chairman of Galaxy, said the two men had made significant contributions to Galaxy's board during their tenure, prompting Galaxy to build an enviable tier one portfolio around the world, allowing Mount Katrin to operate successfully and growing its merger with Orocobre.

According to public data, Galaxy Resources is an international company with lithium production facilities, hard rock mines and brine assets in Australia, Canada and Argentina. The company wholly owns and operates the Katrin Hill Mine in Ravenstep, Western Australia, and is currently engaged in the production of spodumene and tantalum concentrate.

At present, Galaxy is promoting the development of the Argentine Sal de Vida lithium brine project in the lithium triangle, where more than 40 per cent of global lithium production is reported.