EnergyX acknowledges and confirms the recent reports regarding our preliminary offer to acquire the Argentinian assets of Galan Lithium.
We believe Galan has excellent resources in Argentina, and that our advanced LiTAS™ DLE technology platform would further enhance and accelerate production of battery grade lithium from these resources.
The Galan team has done a fantastic job developing the resource to date, as well as building positive relationships with the Catamarca and Argentinian governments, and surrounding indigenous communities. Galan management’s continued involvement in the project would be welcome and encouraged by EnergyX.
While the offer’s terms and conditions have not been finalized, we are excited about the potential discussions and hopeful the Galan management team will accept our offer in the best interest of their shareholders.
Due to the strategic value-add nature of our innovative and proprietary DLE technology, our offer was a substantial premium to Galan’s current trading share price.
If an agreement is reached, EnergyX will have the ability to unlock substantial value above and beyond that of Galan’s current plans and projections that use evaporation pond methodologies.
EnergyX remains committed to exploring opportunities that align with our mission to revolutionize the lithium industry, as well as building our portfolio of world class resource deposits which includes asset acquisitions.