Galantas Increases Proposed Private Placement
04 July 2020 - 1:20AM
Galantas Gold Corporation (the “Company” or “Galantas”)
(TSXV & AIM : Symbol GAL), the AIM and TSX
Venture Exchange (“TSXV”) quoted gold mine developer and explorer
with a 100% interest in Northern Ireland’s Omagh gold mine,
announces that due to investor demand, it has increased the
proposed private placement of common shares (the “Private
Placement”) announced on June 26, 2020.
The net proceeds to be raised by the Private
Placement are intended to be used to support mine operations and
provide general working capital for the Company.
The Private Placement is expected to include
funds raised in both UK and Canadian currency and has increased to
a maximum of 2,833,132 shares, at an issue price of CAD$0.225
(UK£0.1328) per share for maximum gross proceeds of
CAD$637,454 (UK£376,240). Provisional indications have been
received for the maximum amount. A four month plus one day hold
period will apply to the shares and the shares will rank pari passu
with the existing shares in issue of the Company. The Private
Placement will be brokered and insiders of the Company are expected
to participate in the Private Placement.
A further announcement will be made in due
course detailing the results of the Private Placement, which is
subject to TSXV and regulatory approval.
The gold mine at Omagh continues to deliver
limited production of gold concentrate, from the processing of low
grade stock. The processing plant uses a non-toxic flotation
process to produce concentrates, without the use of cyanide or
mercury. It satisfies strict environmental monitoring criteria set
by the Northern Ireland regulatory authorities.
Neither TSXV nor its Regulation Services
Provider (as that term is defined in the policies of the TSXV)
accepts responsibility for the adequacy or accuracy of this
release.
This announcement contains inside information
for the purposes of Article 7 of Regulation (EU) No 596/2014.
Enquiries: Galantas Gold Corporation Roland
Phelps C.Eng – President & CEOEmail: info@galantas.com
Telephone: (UK) +44 (0) 2882 241100Website: www.galantas.com
Grant Thornton UK LLP (AIM Nominated Adviser)
Philip Secrett, Harrison Clarke, Richard Tonthat: Telephone:
+44(0)20 7383 5100
Whitman Howard Ltd (Broker & Corporate
Adviser) Nick Lovering : Telephone: +44(0)20 7659 1234
Galantas Gold (TSXV:GAL)
Historical Stock Chart
From Apr 2024 to May 2024
Galantas Gold (TSXV:GAL)
Historical Stock Chart
From May 2023 to May 2024