galaxy to buy canada's lithium one for c$109 million - where can i buy lithium batteries

(Reuters)-
Galaxy Resources (GXY. AX)
Friday said it would take over lithium one in Canada (LI. V)
$0. 109 billion in friendly C ($109. 10 million)
The deal will allow the Australian miner to expand its global resources to become a top-tier enterprise in the lithium industry.
One shareholder of lithium will receive one.
8 Galaxy shares per share
Canadian miners traded shares valued at about 1 Canadian dollar. 55 per share.
With the increasing demand for lithium in the global battery industry, our goal is to build the largest pure lithium product.
IJI Tan, managing director of Galaxy, said world drama producer.
"Once you get to that level, you really get to know something about some of the bigger institutions," he said . ".
In recent years, with the popularity of consumer electronics such as tablets and smartphones and electric and hybrid vehicles, lithium batteries have taken off.
Galaxy has Mt.
Cattlin hardrock lithium mine in Australia and lithium carbonate processing plant in China.
The company has an annual production capacity of 17,000 metric tons and the company has closed down
Agreement with Mitsubishi Corporation of Japan (8058. T)
And battery manufacturers in China.
Lithium One owns the James Bay hardrock project in Quebec, of which Galaxy already holds a 20% stake, as well as Argentina's promising Sal de Vida Saline Project.
"We are interested in the lithium in brine because it also produces a lot of potash," Tan said . ".
"Potash is a good by-product.
Products, used in agriculture, a large demand.
The board of directors of both companies supported the deal.
Shares of Lithium One closed at $1.
On the 29 th, the TSX risk Exchange closed at $0 on Thursday before the transaction was announced.
885 on the Australian stock exchange on Friday.
Shares of One stopped trading before the market opened on Friday morning. ($1 = 0.
C $9991)