Galantas GOLD Announces Exercise of Warrants
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
June 28, 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 exer cise 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 Phelp s 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).
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.
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: [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 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; discrep ancies 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 Galanta s 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.