Galantas GOLD Announces Upsize to Private Placement of Units
GALANTAS GOLD ANNOUNCES UPSIZE TO
PRIVATE PLACEMENT OF UNITS
Not for distribution to United States news wire services or
for dissemination in the United States
August 11, 2022, TORONTO, CANADA – Galantas Gold Corporation (TSX -V & AIM: GAL;
OTCQX: GALKF) ("Galantas" or the "Company") is pleased to announce that it has entered
into an amending 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"), to increase the size of the Company's previously announced proposed "best efforts"
private placement to up to 13,333,340 units of the Company ("Units") at a price of C$0.45
per Uni t (the " Offering Price") for aggregate gross proceeds of up to approximately C$ 6
million (the "Upsized Offering"). 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 share purchase warrant, a
"Warrant"). Each Warrant will entitle the holder thereof to purchase one Common Share (a
"Warrant Share") at a price of C$0.55 per Warrant Share for a period of 30 months following
the closing of the Upsized 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 Upsized Offering, which will allow the Agents to sell
up to an additional 2,000,001 Units at the Offering Price.
The Company intends to use the net proceeds of the Upsized Offering for exploration and
development at the Joshua Target as well as for working capital and general corporate purposes.
The Upsized 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 Upsized 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 accordance 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 Upsized 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 t he 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 registration or an exemption from such registration requirements.
This news release shall not constitute an offer t o 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 Upsized Offering, the use of proceeds of the Upsized Offering, the timing and ability of the Company to close
the Upsized 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 o f 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 news 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 news release, except as required by law.