Galway Metals Inc. Announces Shareholder Action and Intent to Defend
GALWAY METALS INC. ANNOUNCES SHAREHOLDER ACTION AND INTENT TO
DEFEND
(Toronto, Ontario, June 19, 2017 ) – Galway Metals Inc. (TSX -V: GWM ) (“ Galway” or the
“Company”) announces it has received a Notice of Action issued in the Ontario Superior Court of Justice,
Court File No.: CV -17-577025 (the “Action”) pursuant to which Jaguar Financial Corporation and Mr.
Vic Alboini (collectively, the “Plaintiffs”) have sued Galway , its directors and another shareholder
(collectively, the “Defendants”). Pursuant to the Action, the Plaintiffs allege that they were oppressed by
the Defendants regarding certain matters relating to shareholder meetings held in 2015 at which nominees
of Jaguar Financial Corporation were proposed for but did not obtain seats on the board of Galway .
Plaintiffs also allege that they “missed the opportunity of making a gain” due to Jaguar Financial
Corporation’s sale of shares of Galway before increase s in the trading price of shares of Gal way. The
Plaintiffs are seeking damages in the amount of $2,700,000 and certain other relief.
Galway believes that the Action has no merit and intends to defend the Action. Galway has notified its
insurers on behalf of itself and its directors. Further announcements will be made on the status of this
litigation.
About the Company
Galway Metals is well capitalized with two gold projects in Canada, Clarence Stream, an emerg ing gold
district in New Brunswick, and Estrades, the former producing, high- grade VMS mine in Quebec. The
Company began trading on January 4, 2013, after the successful spinout to existing shareholders from
Galway Resources following the completion of the US$340 million sale of that company. With
substantially the same management team and Board of Directors, Galway Metals is keenly intent on
creating similar value as it had with Galway Resources.
Should you have any questions and for further information, please contact (toll free):
Galway Metals Inc.
Robert Hinchcliffe
President & Chief Executive Officer
1-800-771-0680
www.galwaymetalsinc.com
CAUTIONARY STATEMENT: Neither the 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 of this news release. No stock exchange, securities commission or other regulatory authority has
approved or disapproved the information contained herein.
This news release contains forward -looking information, which is not comprised of historical facts.
Forward-looking information involves risks, uncertainties and other factors that could cause actual events,
results, performance, prospects and opportunities to differ materially from those expressed or implied by
such forward-looking information. Forward-looking information in this news release includes statements
made herein with respect to, among other things, the Company’s objectives, goals or future plans,
potential corporate and/or property acquisitions, exploration results, potential mineralization, exploration
and mine development plans, timing of the commencement of operations, and estimates of market
conditions. Factors that could cause actual results to differ materially from such forward -looking
information include, but are not limited to, exploration results being less favourable than anticipated,
82 Richmond Street East Tel: 800-771-0680
Toronto, ON M5C 1P1 Fax: 416-361-0923
capital and operating costs varying significantly from estimates, del ays in obtaining or failures to obtain
required governmental, environmental or other project approvals, political risks, uncertainties relating to
the availability and costs of financing needed in the future, changes in equity markets, inflation, changes
in exchange rates, fluctuations in commodity prices, delays in the development of projects, risks
associated with the defence of legal proceedings and other risks involved in the mineral exploration and
development industry, as well as those risks set out i n the Company’s public disclosure documents filed
on SEDAR. Although the Company believes that management’s assumptions used to develop the
forward-looking information in this news release are reasonable, including that, among other things, the
Company will be able to identify and execute on opportunities to acquire mineral properties, exploration
results will be consistent with management’s expectations, financing will be available to the Company on
favourable terms when required, commodity prices and fore ign exchange rates will remain relatively
stable, and the Company will be successful in the outcome of legal proceedings, undue reliance should
not be placed on such information, which only applies as of the date of this news release, and no
assurance can be given that such events will occur in the disclosed time frames or at all. The Company
disclaims any intention or obligation to update or revise any forward- looking information contained
herein, whether as a result of new information, future events or ot herwise, except as required by
applicable securities laws.