Galan Lithium Limited (ASX:GLN) announced a private placement of 23,076,924 common shares at a price of AUD 0.13 per share for gross proceeds of AUD 3,000,000 on October 12, 2020. The company has received firm commitments from domestic and international investors which includes existing shareholders including Luxembourg green energy fund, Thematica Future Mobility and several new sophisticated institutional investors. The transaction is expected to close on October 19, 2020.