Galan Lithium Limited (ASX:GLN) announced a private placement of 3,928,572 ordinary fully paid shares at an issue price of AUD 0.14 per share fro gross proceeds of AUD 550,000.08 on April 3, 2020. The transaction will involve participation from professional and sophisticated investors and others, including the entire company's Board, staff and key consultants. The company will issue one free unquoted option on a one for one basis exercisable at a price of AUD 0.25 per share till on or before March 31, 2022. Prior shareholder approval will be sought for the issue of directors’ shares on May 15, 2020. The transaction is expected to close on April 9, 2020.