Lithium One and Galaxy Resources To Propose Merger

Lithium One Inc.(TSXV:LI) announced that it has received an interim court order for merger from the Ontario Superior Court of Justice authorizing a shareholder’s meeting. The Company will put forward a proposed plan of arrangement with Galaxy Resources Limited at the meeting.

As quoted in the press release:

At the Meeting, Securityholders will be asked to consider and, if thought fit, approve a special resolution relating to the proposed plan of arrangement (the “Arrangement”), involving Lithium One, the Securityholders, Galaxy Resources Limited (ASX:GXY) of Australia (“Galaxy”) and Galaxy Lithium One Inc. (“Canco”), a wholly owned Canadian subsidiary of Galaxy.

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