Galway Metals launches $14M flow-through private placement

Galway Metals Inc. (TSXV: GWM)(OTCQB: GAYMF) has entered into an agreement with Beacon Securities Limited as sole agent for a "best efforts" brokered private placement of up to 19,437,000 flow-through units at $0.72 per unit, for gross proceeds of up to approximately $14 million, according to a company statement.

Investor Michael Gentile has agreed to subscribe for 17,150,000 flow-through units. Upon closing, he is expected to own or control approximately 11.04% of the company's issued and outstanding common shares, or approximately 19.9% assuming full exercise of the warrants included in his units. Gentile will become a new insider of the company and has agreed to a 12-month lock-up on his investment.

Each flow-through unit consists of one common share and one warrant. Each warrant entitles the holder to acquire one non-flow-through common share at $0.80 for 36 months from the closing date, which is expected to be on or about October 14, 2026, subject to TSX Venture Exchange approval and other customary conditions.

Proceeds will be used to fund eligible Canadian exploration expenses at the company's Clarence Stream gold project in New Brunswick, Canada, on or before December 31, 2027. All qualifying expenditures will be renounced in favor of subscribers effective December 31, 2026.

Beacon Securities will receive a 6% cash commission on the offering. The offering is available to eligible purchasers resident in Canadian provinces under applicable exemptions. Securities issued will be subject to a four-month hold period under Canadian securities law.

Robert Hinchcliffe, President and Chief Executive Officer of Galway Metals, said Gentile "shares our vision for the significant potential of our two Canadian projects and has a strong track record of identifying and supporting high-quality opportunities in the junior mining sector."

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