Galan Lithium Limited (AU:GLN) has released an update.
Galan Lithium Limited (GLN) has decided not to proceed with a proposal from EnergyX to acquire its Argentinian lithium assets, deeming the proposal unlikely to have a material effect on GLN’s share value. The company clarified that the terms and conditions of the non-binding offer were such that it would not impact GLN’s securities’ price, supported by the share price’s return to pre-speculation levels. GLN released an announcement to correct inaccuracies in a media article and, after consultation, concluded that the proposal did not warrant earlier disclosure to the market.
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