Galantas Gold Corporation Exercise of Warrants (5110B)
14 February 2022 - 06:00PM
UK Regulatory
TIDMGAL
RNS Number : 5110B
Galantas Gold Corporation
14 February 2022
Exercise of Warrants
February 14, 2022, TORONTO, CANADA - Galantas Gold Corporation
(TSX-V & AIM: GAL; OTCQX: GALKF) ("Galantas" or the "Company")
announces the early exercise of 6,323,333 warrants at an exercise
price of CAD$0.40 ("Warrants"), with an additional 1,708,333
Warrants to be exercised by insiders Mario Stifano, CEO of
Galantas, and Ocean Partners USA Inc. ("Ocean Partners") following
the completion of U.K. share dealing clearance; for current
expected gross proceeds of CAD$3,212,666. A total of 18,673,265
CAD$0.40 Warrants from the May 14, 2021 financing remain
outstanding and are due to expire on May 14, 2023 (see May 18, 2021
news release).
Mario Stifano commented: "We are pleased to have the continued
support of our shareholders as we advance the Omagh Project towards
production while also exploring to expand our high-grade resources.
The early exercise of Warrants by many of our significant
shareholders including Michael Gentile, Melquart Ltd. and Eric
Sprott, is a strong endorsement of the potential of our project,
while also allowing the Company to maintain a tight capital
structure."
6,323,333 Common Shares are expected to be admitted to trading
on AIM on February 17, 2022 ("Admission").
Following Admission, the number of Common Shares in issue in the
Company will increase to 80,593,801.
About Galantas Gold Corporation
Galantas Gold Corporation is a Canadian public company that
trades on the TSX-Venture Exchange and the London Stock Exchange
AIM market, both under the symbol GAL. It also trades on the OTCQX
Exchange under the symbol GALKF. The Company's strategy is to
create shareholder value by operating and expanding gold production
and resources at the Omagh Project in Northern Ireland.
Enquiries
Galantas Gold Corporation
Mario Stifano: Chief Executive Officer
Email: info@galantas.com
Website: www.galantas.com
Telephone: +44(0)28 8224 1100
Grant Thornton UK LLP (AIM Nomad)
Philip Secrett, Harrison Clarke, George Grainger, Samuel
Littler
Telephone: +44(0)20 7383 5100
Panmure Gordon & Co (AIM Broker & Corporate Adviser)
Nick Lovering, Hugh Rich, John Prior
Telephone: +44(0)20 7886 2500
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