Galantas Announces an Increase in the Maximum Size of Proposed Private Placement Due to Strong Demand and to Accelerate Exploration Program
- Wall Street ends volatile week sharply higher
- Disney (DIS) Dips As Streaming Business Shows Signs of Slowing Down, Analysts 'Very Bullish' on LT Opportunity
- Airbnb (ABNB) Bookings Up 52% to Help Sales Beat, Seen as a 'Blow Out Quarter' as More Upside is Left
- DoorDash (DASH) Reports Bigger Loss and a Sales Beat, Shares Soars on Strong Guidance and Two Upgrades to 'Buy'
- Coinbase (COIN) To Add Dogecoin Trading in the Next Few Weeks
News and research before you hear about it on CNBC and others. Claim your 1-week free trial to StreetInsider Premium here.
TORONTO, April 21, 2021 (GLOBE NEWSWIRE) -- Galantas Gold Corporation (“Galantas” or the “Company”) is pleased to announce an amendment to the proposed Private Placement that will provide for the financing to bring the Galantas Gold Mine in Omagh, Northern Ireland, into full production.
Strong demand has been received for the Private Placement, which was detailed in a press release dated April 19, 2021 and this has resulted in a potential over-subscription. The Private Placement maximum (previously a maximum of 22 million “Units” at C$0.30 per Unit (the “Offering Price”), where each Unit comprises one common share and one warrant, has been increased to a maximum of 26,666,667 Units. The minimum gross proceeds expected to be raised remain as C$5,100,000, with maximum gross proceeds of C$8,000,000 (previously C$6,600,000). Each warrant will be exercisable into one additional share at an exercise price of C$0.40 for 24 months from the closing date of the placement. There will be a 4-month hold period on the trading of securities issued in connection with this offering.
The net funds raised will be mainly used for bringing the Galantas Gold Mine into full commercial production and for exploration to expand the high-grade gold resources. An increase in the maximum gross proceeds will permit the planned exploration program to be accelerated.
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 release.
Information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
Grant Thornton UK LLP (AIM Nomad)Philip Secrett, Harrison ClarkeTelephone: +44(0)20 7383 5100
Panmure Gordon & Co (AIM Broker & Corporate Adviser)Nick Lovering, Hugh RichTelephone: +44(0)20 7886 2500
Source: Galantas Gold Corporation
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- OTTAWA SAVINGS BANK ANNOUNCES FILING OF APPLICATION TO CONVERT TO AN ILLINOIS-CHARTERED COMMERCIAL BANK AND CHANGE NAME TO “OSB COMMUNITY BANK”
- Corcoran Global Living Announces New Office in Prime Beverly Hills Location
- ArcLight Clean Transition Corp. Announces Registration Statement in Connection with its Proposed Business Combination with Proterra Inc has been Declared Effective and Sets June 11, 2021 as the Meetin
Create E-mail Alert Related CategoriesGlobe Newswire, Press Releases
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!