Galantas GOLD Announces a Private Placement of up to C$4 Million
GALANTAS GOLD ANNOUNCES A PRIVATE PLACEMENT OF UP TO C$4
MILLION
Not for distribution to United States news wire services or for dissemination in the
United States
August 8, 2022, TORONTO, CANADA – Galantas Gold Corporation (TSX-V & AIM: GAL;
OTCQX: GALKF) ("Galantas" or the "Company") announces that it has entered into an
agreement with Canaccord Genuity Corp., on behalf of itself and a syndicate of agents
including Cormark Securities Inc. and Research Capital Corporation (together, the "Agents"),
in connection with a proposed "best efforts" private placement (the " Offering") of up to
8,888,890 units of the Company ("Units") at a price of C$0.45 per Unit (the "Offering Price")
for aggregate gross proceeds of up to approximately C$4 million. Each Unit will be comprised
of one common share in the capital of the Company (each, a " Common Share") and one-
half of one common share purchase warrant of the Company (each whole common s hare
purchase warrant, a "Warrant"). Each Warrant will entitle the holder thereof to purchase one
common share in the capital of the Company (a " Warrant Share") at a price of $0.55 per
Warrant Share for a period of 30 months following the closing of the Offering.
The Company has also granted the Agents an option, exercisable, in whole or in part, at any
time up to 48 hours prior to closing of the Offering, which will allow the Agents to sell up to an
additional 1,333,334 Units at the Offering Price.
The Company intends to use the net proceeds of the Offering for exploration and development
at the Joshua Target as well as for working capital and general corporate purposes.
The Offering is expected to close on or about August 25, 2022, or such other date as the
Company and the Agents may agree, and is subject to certain closing conditions including,
but not limited to, the receipt of all necessary approvals, including the conditional acceptance
of the TSX Venture Exchange. The Offering will be made by way of private placement in each
of the provinces of Can ada pursuant to applicable exemptions from the prospectus
requirements, and in such other jurisdictions, in each case in a ccordance with all applicable
laws, provided that no prospectus, registration statement or other similar document is required
to be filed in such jurisdiction . The securities issued under the Offering will be subject to a
four month hold period under applicable Canadian securities laws.
The securities offered have not been , nor will they be, registered under the United States
Securities Act of 1933, as amended, or any state securities law, and may not be offered or
sold in the United States absent registrat ion or an exemption from such registration
requirements. This news release shall not constitute an offer to sell or the solicitation of an
offer to buy nor shall there be any sale of the securities in any state in which such offer,
solicitation or sale would be unlawful.
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 news release.
The information contained within this announcement is deemed to constitute inside
information as stipulated under the retained EU law version of the Market Abuse Regulation
(EU) No. 596/2014 (the "UK MAR") which is part of UK law by virtue of the European Union
(Withdrawal) Act 2018. The information is disclosed in accordance with the Company's
obligations under Article 17 of the UK MAR. Upon the publication of this announcement, this
inside information is now considered to be in the public domain.
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: [email protected]
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 Joint Broker & Corporate Adviser)
Hugh Rich, John Prior
Telephone: +44(0)20 7886 2500
SP Angel Corporate Finance LLP (AIM Joint Broker)
David Hignell, Charlie Bouverat (Corporate Finance)
Grant Barker (Sales & Broking)
Telephone: +44(0)20 3470 0470
Forward-Looking Statements
This news release contains forward -looking statements within the meaning of the United States Private
Securities Litigation Reform Act of 1995 and applicable Canadian securities laws, including, but not limited to,
the terms of the Offering, the use of proceeds of the Offering, the timing and ability of the Company to close the
Offering, the timing and ability of the Company to receive necessary regulatory approvals, and the plans,
operations and prospects of the Company. 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 cl aims 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 news
release should not place undue reliance on forward-looking statements. Galantas has no intention and
undertakes no obligation to update or revise any forw ard-looking statements in this new s release, except as
required by law.