Canada’s Lithium One Inc. announced that it has received shareholder approval of its merger with Australian lithium mining, chemicals and battery company, Galaxy Resources Ltd.
Under the terms of the agreement, Lithium One shareholders will be entitled to receive 1.96 common shares of Galaxy in exchange for each common share issued.
Lithium One’s principal asset is the Sal de Vida lithium and potash brine project in Argentina, which it is developing in addition to its Canadian lithium pegmatite property in James Bay, Quebec.
Galaxy owns a producing spodumene mine in Ravensthorpe, Western Australia in addition to lithium carbonate production facilities in Jiangsu province, China.
Lithium One’s chairman, Martin Rowley, said that the partnership with fully...