Galaxy Resources Ltd. advised that it has established a special management committee, as an advisory committee reporting to the company's board, consisting of interim Managing Director Anthony Tse, Non-executive Director Xiaojian Ren, Galaxy executive Charles Whitfield, and Martin Rowley. The scope of the Committee's work will focus on various strategic initiatives, including a general review of the Company's business, operations and financial structuring. Mr. Rowley was a co-founder of TSX and LSE-listed First Quantum Minerals Ltd. and is currently that company's Executive Director, Business Development. He was previously Chairman of Lithium One Inc., which was acquired by Galaxy by way of a Plan of Arrangement in July 2012. He is also non-executive Chairman and a director of Forsys Metals Corp, a TSX-listed company in the uranium sector. Mr. Ren is a co-founder, Executive Director and the CEO of Creat Group. He has significant experience in the
China banking and finance sector having previously served with the Agricultural Bank of China at the Jiangxi Provincial level as well as the corporate headquarters. The Creat Group was established in 1992 and has made some significant investments in leading corporations across China, including Henan Pinggao Electric (listed on the Shanghai Stock Exchange), Yantai North Andre Juice, Shanghai RAAS, as well as other manufacturing, real estate and nonferrous metals and mining companies. Following the appointment of Mr. Rowley, the Galaxy Board, Special Management Committee and the Company's major shareholders have agreed to proceed with the Entitlement Issue.