Galaxy Resources Limited - Management changes

PERTH, Australia, Dec. 1, 2014 /CNW/ - Galaxy Resources Ltd. (ASX: GXY) ("Galaxy" or "the Company")  is pleased to announce the appointment of Mr Simon Robertson as Company Secretary following the resignation of Mr Andrew Meloncelli effective Friday 28^th November 2014.

Mr Robertson holds a Bachelor of Business from Curtin University in Western Australia and Masters of Applied Finance from Macquarie University in New South Wales. He is a member of the institute of Chartered Accountants and the Governance Institute of Australia. Mr Robertson currently holds the position of Company Secretary for a number of publically listed companies and has extensive experience in corporate finance, accounting and administration, capital raisings and ASX compliance and regulatory requirements.

"We are delighted to welcome Simon to the Galaxy team" said Mr Anthony Tse, Managing Director of Galaxy. The Board would like to thank Mr Meloncelli for his contribution to the Company over the years and wishes him well in his future endeavours.

The Board would also like to take this opportunity to announce two new members to the senior management team:

Appointment of Chief Financial Officer – Mr Rowen Colman

Mr Colman is a Chartered Accountant with over 25 years of successful senior financial management experience in various global industries and holds a Bachelor Degree in Commerce from the University of NSW, Australia and a Certificate in Governance Practice from the Governance Institute of Australia. Following years spent as Development Director for a major sovereign wealth fund in the Middle East managing multiple global development projects, Mr Colman has more recently focused his expertise on the resource industry. Mr Colman is Chief Financial Officer of Forsys Metals Corp., a TSX listed uranium developer and also Chief Financial Officer of Caravel Minerals Ltd. an ASX listed gold and base metals explorer.

Galaxy's Managing Director, Anthony Tse said "Rowen's broad network and range of experience in the sector will complement the experienced executive team at the Company."

Appointment of Director - Investor Relations – Mr Nicholas Rowley

Mr Rowley holds a Bachelor of Commerce from the University Of Notre Dame Western Australia and a Graduate Diploma of Applied Finance and Investment from the Securities Institute of Australia. Mr Rowley previously worked as an Investment Advisor for Bell Potter Securities Limited for 9 years where he gained widespread experience in equities markets, advising domestic and international Institutional sales and high net worth individuals.  He also advised on the equity financings of numerous ASX and TSX listed companies.

About Galaxy (ASX: GXY)

Galaxy Resources Ltd. ("Galaxy") is an Australian-based global lithium company with lithium production facilities, hard rock mines and brine assets in Australia, China, Canada and Argentina. The Company is a lithium producer listed on the Australian Securities Exchange (Code: GXY)

Galaxy owns the Jiangsu Lithium Carbonate Plant (100%) in China's Jiangsu province, Mt Cattlin (100%) spodumene project near Ravensthorpe in Western Australia and the James Bay (100%) lithium pegmatite project in Quebec, Canada. 

Galaxy is also advancing plans to develop the Sal de Vida (96%) lithium and potash brine project in Argentina situated in the lithium triangle (where Chile, Argentina and Bolivia meet), which is currently the source of 60% of global lithium production. Sal de Vida has excellent potential as a future low cost brine mine and lithium carbonate processing facility.

Lithium compounds are used in the manufacture of ceramics, glass, electronics and are an essential cathode material for long life lithium-ion batteries used to power e-bikes and hybrid and electric vehicles. Galaxy is bullish about the global lithium demand outlook and is aiming to become a major producer of lithium products. 

Caution Regarding Forward Looking Information.

This document contains forward looking statements concerning Galaxy. 

Forward-looking statements are not statements of historical fact and actual events and results may differ materially from those described in the forward looking statements as a result of a variety of risks, uncertainties and other factors.  Forward-looking statements are inherently subject to business, economic, competitive, political and social uncertainties and contingencies.  Many factors could cause the Company's actual results to differ materially from those expressed or implied in any forward-looking information provided by the Company, or on behalf of, the Company. Such factors include, among other things, risks relating to additional funding requirements, metal prices, exploration, development and operating risks, competition, production risks, regulatory restrictions, including environmental regulation and liability and potential title disputes.

Forward looking statements in this document are based on Galaxy's beliefs, opinions and estimates of Galaxy as of the dates the forward looking statements are made, and no obligation is assumed to update forward looking statements if these beliefs, opinions and estimates should change or to reflect other future developments. 

Not For Release in US

This announcement has been prepared for publication in Australia and may not be released in the U.S. This announcement does not constitute an offer of securities for sale in any jurisdiction, including the United States, and any securities described in this announcement may not be offered or sold in the United States absent registration or an exemption from registration under the United States Securities Act of 1933, as amended. Any public offering of securities to be made in the United States will be made by means of a prospectus that may be obtained from the issuer and that will contain detailed information about the company and management, as well as financial statements.

SOURCE Galaxy Resources Ltd.