Galantas Gold Corporation Exercise of Warrants (8787Q)
30 June 2022 - 11:53PM
UK Regulatory
TIDMGAL
RNS Number : 8787Q
Galantas Gold Corporation
30 June 2022
GALANTAS GOLD ANNOUNCES EXERCISE OF WARRANTS
June 30, 2022, TORONTO, CANADA - Galantas Gold Corporation
(TSX-V & AIM: GAL; OTCQX: GALKF) ("Galantas" or the "Company")
announces that it received notification on 28 July 2022 of the
early exercise of 920,000 warrants at an exercise price of CAD$0.33
by G&F Phelps Ltd, a company wholly owned by former Galantas
President and CEO, Roland Phelps, as well as 500,000 warrants at an
exercise price of CAD$0.40 ("Warrants") by shareholder Michael
Gentile, following the completion of U.K. share dealing clearance;
for gross proceeds of CAD$503,600 (the "Exercises"). The shares to
be issued for the exercise of the 920,000 warrants by G&F
Phelps Ltd. will be registered to Roland Phelps in trust for
G&F Phelps Ltd.
A total of 16,725,265 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), and a total of 1,480,000 CAD$0.33
Warrants remain outstanding and are due to expire on December 31,
2023.
Mario Stifano commented: "We thank Mr. Phelps and Mr. Gentile
for their continued support as we advance the Omagh Project towards
production while also exploring to expand our high-grade resources.
Their early exercise of warrants allows us to maintain a tight
capital structure."
920,000 Common Shares are expected to be admitted to trading on
AIM on July 5, 2022 ("Admission"). 500,000 Common Shares are
included in the May 14, 2021 Warrants Block Admission Scheme
announced on June 9, 2022.
Following Admission, the number of Common Shares in issue in the
Company will increase to 85,170,134.
As a result of the Exercise, Roland Phelps shareholding
increased to 5,353,818 Common Shares (representing 6.29% of the
issued share capital) and Mike Gentile's shareholding increased to
6,100,000 Common Shares (representing 7.16% of the issued share
capital).
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 Northern
Ireland's first gold mine.
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)
Hugh Rich, John Prior
Telephone: +44(0)20 7886 2500
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of applicable securities laws. Forward-looking
statements are based on estimates and assumptions made by Galantas
in light of its experience and perception of historical trends,
current conditions and expected future developments, as well as
other factors that Galantas believes are appropriate in the
circumstances. Many factors could cause Galantas' actual results,
the performance or achievements to differ materially from those
expressed or implied by the forward looking statements or strategy,
including: gold price volatility; discrepancies between actual and
estimated production, actual and estimated metallurgical recoveries
and throughputs; mining operational risk, geological uncertainties;
regulatory restrictions, including environmental regulatory
restrictions and liability; risks of sovereign involvement;
speculative nature of gold exploration; dilution; competition; loss
of or availability of key employees; additional funding
requirements; uncertainties regarding planning and other permitting
issues; and defective title to mineral claims or property. These
factors and others that could affect Galantas' forward-looking
statements are discussed in greater detail in the section entitled
"Risk Factors" in Galantas' Management Discussion & Analysis of
the financial statements of Galantas and elsewhere in documents
filed from time to time with the Canadian provincial securities
regulators and other regulatory authorities. These factors should
be considered carefully, and persons reviewing this press release
should not place undue reliance on forward-looking statements.
Galantas has no intention and undertakes no obligation to update or
revise any forward-looking statements in this press release, except
as required by law.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
IOEWPUPAQUPPGWU
(END) Dow Jones Newswires
June 30, 2022 09:53 ET (13:53 GMT)
Galantas Gold (LSE:GAL)
Historical Stock Chart
From Mar 2024 to Apr 2024
Galantas Gold (LSE:GAL)
Historical Stock Chart
From Apr 2023 to Apr 2024