Galway Metals Settles Claim by Former Employee with Cash and Share Payments
82 Richmond Street East Tel: 800-771-0680
Toronto, ON M5C 1P1 Fax: 416-361-0923
Galway Metals Settles Claim by Former Employee
with Cash and Share Payments
Toronto, ON – September 16 , 2026 – Galway Metals Inc. (TSX -V: GWM; OTCQB: GAYMF) (“ Galway
Metals” or the “ Company”), is pleased to announce that a settlement agreement (the “Agreement”) has
been reach ed to resolve all outstanding litigation with respect to an action commenced by a former
employee against the Company , as disclosed in the Company’s financial statements . Under the terms of
the Agreement, Galway will pay a total of $800,000, comprised of $500,000 in cash and $300,000 through
the issuance of common shares in the capital of the Company ( such $300,000 share component, the
“Debt”). In settlement of the Debt, t he Company proposes to issue 619,834 common shares in the capital
of Galway (the “Settlement Shares”) at a deemed price of $0.484, per Settlement Share (the “Shares for
Debt Settlement”), subject to the acceptance of the TSX Venture Exchange (the “TSXV”).
The deemed price per Settlement Share is not less than the Discounted Market Price of the Company’s
common shares as at the date of this news release, and the Shares for Debt Settlement will be completed
in accordance with the policies of the TSXV, including Policy 4.3 - Shares for Debt.
The Company believes that it is desirable to settle the Debt through the issuance of the Settlement Shares
in order to preserve the Company’s cash for ongoing operations.
No insider of the Company is participating in the Shares for Debt Settlement, and no new insider or Control
Person of the Company will be created as a result of the Shares for Debt Settlement.
The Shares for Debt Settlement is subject to the acceptance of the TSXV. The Settlement Shares will not
be issued until such acceptance has been obtained.
All Settlement Shares issued pursuant to the Shares for Debt Settlement will be subject to a hold period of
four months and one day from the date of issuance in accordance with applicable securities laws and the
policies of the TSXV, and the certificates or direct registration.
About Galway Metals Inc.
Galway Metals is a Canadian mineral exploration and development company focused on advancing its
100%-owned, high-grade, open-pitable flagship Clarence Stream gold project in southwest New Brunswick.
Clarence Stream is an emerging gold district with an exploration strike length of approximately 65 kilometres
and the existing resource is open in virtually all directions. Galway Metals holds a 90% participating interest
in the Estrades Project, a former producing high -grade, gold-rich polymetallic VMS mine in the northern
Abitibi of western Québec. Led by a management team with a proven track -record of creating shareholder
value having sold Galway Resources for US$340 million, Galway Metals is focused on creating value for
all its stakeholders.
For additional Information on Galway Metals Inc., Please contact:
Robert Hinchcliffe, President & Chief Executive Officer
Telephone: 1-800-501-4808
Website: www.galwaymetalsinc.com
Email: [email protected]
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Cautionary Statement
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the Toronto
Stock Exchange) accepts responsibility for the adequacy or accuracy of this news release. No stock
exchange, securities commission or other regulatory authority has approved or disapproved the information
contained herein.
This News Release includes certain “forward -looking statements” which are not comprised of historical
facts. Forward-looking statements include estimates and statements that describe the Company’s future
plans, objectives or goals, including words to the effect that the Company or management expects a stated
condition or result to occur. Forward -looking statements may be identified by such terms as “believes”,
“anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward -looking
statements are based on assumptions and address future events and conditions, by their very nature they
involve inherent risks and uncertainties. Although these statements are based on information currently
available to the Company, the Company provides no assurance that actual results will meet management’s
expectations. Risks, uncertainties and other factors involved with forward -looking information could cause
actual events, results, performance, prospects and opportunities to differ materially fr om those expressed
or implied by such forward-looking information. Forward looking information in this news release includes,
but is not limited to, the Company’s objectives, goals or future plans, information with respect to the OTCQB
listing, DTC eligibility, and broadening U.S. institutional and retail investors. Factors that could cause actual
results to differ materially from such forward -looking information include, but are not limited to changes in
economic conditions or financial markets, political and competitive developments, operation or exploration
difficulties, changes in equity markets, changes in exchange rates, fluctuations in commodity prices capital,
operating and reclamation costs varying significantly from estimates and the other risks in volved in the
mineral exploration and development industry, and those risks set out in the Company’s public documents
filed on SEDAR+. Although the Company believes that the assumptions and factors used in preparing the
forward-looking information in this news release are reasonable, 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, whether as a result of new information, future
events or otherwise, other than as required by law.