Lithium One and Galaxy Resources Limited (ASX: GXY) of Australia have announced that they have entered into a definitive arrangement agreement pursuant to which a wholly owned subsidiary of Galaxy will acquire by way of a court-approved plan of arrangement all of the outstanding securities of Lithium One, valued at approximately $112 million. The proposed transaction allows Lithium One to become part of a vertically integrated lithium company of global significance. Galaxy, upon completion, will have a portfolio of production and development assets located on four continents, comprising hard rock and brine resource projects and processing facilities. Combining the assets of both Lithium One and Galaxy will result in a fully integrated company that will be a major player in the lithium sector." Galaxy Resources Ltd is an Australian-based integrated lithium mining, chemicals and battery company listed on the Australian Securities Exchange and is a S&P/ASX 300 Index Company. Galaxy wholly owns the Mt Cattlin project near Ravensthorpe in Western Australia where it mines lithium pegmatite ore and processes it on site to produce a spodumene concentrate and tantalum by-product. Lithium One's principal asset is the Sal de Vida lithium and potash brine project in Argentina and also owns the James Bay bulk tonnage spodumene project in Quebec. Galaxy Resources was advised by a team from Fasken Martineau including Martin Gagné, Peter Villani, Alain Ranger, Richard Steinberg, Kimberly Okell, Monica Dingle and Aaron Atkinson.