Galway Metals closes private placement raising $461,900

Galway Metals Inc. (TSXV: GWM) completed a non-brokered private placement on December 11, 2024, raising aggregate gross proceeds of $461,899.80, according to a company statement.

The private placement consisted of 855,370 units priced at $0.54 each. Each unit includes one common share and half of one transferable common share purchase warrant. The warrants allow holders to acquire common shares at $0.80 per share for three years from the closing date.

In connection with the placement, the company paid a finder's fee of $13,859.10 and issued 25,665 finder's warrants to one arm's-length finder. The finder's warrants carry an exercise price of $0.54 per share and expire three years from closing.

All securities issued in the private placement are subject to a four-month-and-one-day hold period under Canadian securities laws, expiring April 12, 2026. The transaction remains subject to final approval from the TSX Venture Exchange.

Galway Metals operates two mining projects in Canada. The company's Clarence Stream project is located in New Brunswick, while the Estrades project is situated in Quebec. The company was formed following a spinout from Galway Resources after that entity completed a $340 million sale.

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