Galaxy Resources buys Alita’s debts, becomes major shareholder

By Martim Facada
Published: Wednesday, 28 August 2019

Galaxy Resources announced on August 27 to have bought Alita’s debt, becoming the company largest shareholder.

Australian lithium spodumene producer Galaxy Resources has bought Alita Resources' debt for $31.1 million, including interest, fees and costs. 

Alita Resources, also based in Australia, suspended securities trading on August 14 to discuss its debt situation with its consortium of lenders led by Tribeca Investment Partners, Fastmarkets reported...

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