Galan Lithium clarifies past share issuances for earthmoving services

Galan Lithium Limited has clarified previous disclosures concerning the issuance of 28,323,275 fully paid ordinary shares to service providers for earthmoving and construction services in Argentina. The company's Appendix 2A filings on December 17, 2024, and January 17, 2025, incorrectly stated that these shares were issued under ASX Listing Rule 7.1A, noting that non-cash equity cannot be issued under this rule.

The company realized these inaccuracies after the initial disclosures. The issuance of these 28,323,275 shares was subsequently ratified by shareholders at a general meeting on June 5, 2025, under ASX Listing Rule 7.1, as detailed in resolutions 6 and 7 of the meeting notice. Galan confirmed it possessed the necessary capacity under both ASX Listing Rule 7.1A and ASX Listing Rule 7.1 when the securities were originally issued.

Galan Lithium will amend its previous disclosures to accurately reflect that the shares were issued under its ASX Listing Rule 7.1 capacity. The inconsistencies are attributed to an administrative oversight, and the company has reviewed its internal arrangements to prevent similar future discrepancies in market disclosures.