Corporate Debt Reduction

PERTH ,  Australia , Nov. 12, 2015 /CNW/ -

Corporate Update

The Company is pleased to announce that it has settled a definitive agreement with one of its convertible bondholders, Eternal Faith Holdings (a member of the Fengli Group), with a buyback of their convertible bonds with a face value of $31.2 million for a consideration of A$27 million plus interest accrued and outstanding, effective 11 November, 2015.

This announcement was released on the Australian Securities Exchange (ASX) on 12 November 2015. Readers are referred to this announcement for details about Galaxy Resources Limited.

SOURCE Galaxy Resources Limited

Corporate: Nick Rowley, Director - Corporate Development, [phone], [email protected]