Galantas Gold Corporation GALANTAS ANNOUNCES PRIVATE PLACEMENT (5900W)
16 November 2017 - 1:30AM
UK Regulatory
TIDMGAL
RNS Number : 5900W
Galantas Gold Corporation
15 November 2017
GALANTAS GOLD CORPORATION
TSXV and AIM: - GAL
GALANTAS ANNOUNCES PRIVATE PLACEMENT
Date : 15(th) November 2017. Galantas Gold Corporation (the
"Company"), the AIM and TSXV quoted gold producer and explorer with
a 100% interest in Northern Ireland's Omagh gold mine, announces a
proposed private placement of shares.
The proposed placement is for a maximum of 20,000,000 shares, at
an issue price of CDN$0.07 (UKGBP0.041) per share (the "Placing")
for maximum gross proceeds of CDN$1,400,000 (UKGBP820,000). A four
month hold period will apply to the shares and issuance will be
subject to TSX Venture Exchange and regulatory approval. The shares
will rank pari passu with the existing shares in issue of the
Company.
The net proceeds to be raised by the Placing are intended to be
used for working capital purposes and to continue development of an
underground mine on the Omagh property. The Placing is expected to
be on a part brokered basis. A further announcement will be made in
due course detailing the results of the Placing.
The Company is in the process of negotiating additional finance
on a debt related basis, to provide additional funds to enable the
development of the mine to be completed.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Galantas Gold Corporation's Issued and Outstanding Shares total
170,894,087 .
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) No 596/2014.
Enquiries : Galantas Gold Corporation
L. Jack Gunter P.Eng - Chairman, Roland Phelps C.Eng - President
& CEO
Email: info@galantas.com Telephone: (UK) +44 (0) 2882 241100
Website: www.galantas.com
Grant Thornton UK LLP (Nominated Adviser)
Philip Secrett, Harrison Clarke, Richard Tonthat : Telephone:
+44(0)20 7383 5100
Whitman Howard Ltd (Broker & Corporate Adviser)
Nick Lovering, Grant Barker : Telephone: +44(0)20 7659 1234
This information is provided by RNS
The company news service from the London Stock Exchange
END
IOELLFVLLDLELID
(END) Dow Jones Newswires
November 15, 2017 09:30 ET (14:30 GMT)
Galantas Gold (LSE:GAL)
Historical Stock Chart
From Apr 2024 to May 2024
Galantas Gold (LSE:GAL)
Historical Stock Chart
From May 2023 to May 2024
