Nov 25 (Reuters) - Galaxy Resources Ltd GXY.AX :
* ANNOUNCES A$161 MILLION EQUITY FINANCING
* NEW SHARES TO BE ISSUED AT A$1.70 PER SHARE
* ANNOUNCES FULLY UNDERWRITTEN 1 FOR 14 PRO-RATA ACCELERATED NON-RENOUNCEABLE ENTITLEMENT OFFER & INSTITUTIONAL PLACEMENT
* OFFER PROCEEDS TO BE USED AT SAL DE VIDA STAGE 1 AND FUND PRE-DEVELOPMENT WORK AT JAMES BAY