Global Lithium enters into binding SID with Titan

• Offer Price of A$1.15 per share, valuing Global Lithium at ~A$333 million
• Represents a premium of over 70% to recent trading prices
• Titan to provide up to A$120m to ensure project development continues

Global Lithium Resources Limited (ASX: GL1) has entered into a binding Scheme Implementation Deed (SID) with Titan Australia Mining Pty Ltd (Titan) for a cash offer of A$1.15 per share, valuing the company at approximately A$333 million. The offer represents a premium of over 70% to Global Lithium's recent traded prices. The Scheme provides Global Lithium shareholders with certain and immediate value for their shares, removes future funding and execution risk, and ensures the development of the Manna Lithium Project continues. Titan, part of the Titan Lithium Group, is developing a fully integrated lithium business and aims to provide a substantial Australian lithium resource and a potential long-term source of feedstock for its UAE operations.