Galans reply to the AFR street talk article

Galan Lithium Limited (ASX: GLN) addresses a recent media report regarding a potential takeover bid. The Company clarifies that it has not received a formal takeover offer but has received an unsolicited, confidential, conditional, non-binding indicative proposal from Energy Exploration Technologies, Inc. This proposal involves acquiring Galan’s Argentinian lithium assets, specifically from the Salar del Hombre Muerto and Candelas projects, for US$100 million, comprising US$50 million cash and US$50 million in EnergyX common shares.

Additionally, EnergyX plans to allocate US$50 million to its subsidiary for the lithium production phase, maintain the project assets, and offer Galan a 10% gross revenue royalty for ten years post-commercial production. The proposal requires satisfactory due diligence and board approval, with Galan committed to disclosing information as required by ASX Listing Rules.

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