REG - Galantas Gold Corp - Exercise of Warrants

Galantas GoldAnnouncement

14/02/2022 07:00

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RNS Number : 5110B  Galantas Gold Corporation  14 February 2022

 

Exercise of Warrants

 

 

February 14, 2022, TORONTO, CANADA - Galantas Gold Corporation (TSX-V &
AIM: GAL; OTCQX: GALKF) ("Galantas" or the "Company") announces the early
exercise of 6,323,333 warrants at an exercise price of CAD$0.40 ("Warrants"),
with an additional 1,708,333 Warrants to be exercised by insiders Mario
Stifano, CEO of Galantas, and Ocean Partners USA Inc. ("Ocean Partners")
following the completion of U.K. share dealing clearance; for current expected
gross proceeds of CAD$3,212,666. A total of 18,673,265 CAD$0.40 Warrants from
the May 14, 2021 financing remain outstanding and are due to expire on May 14,
2023 (see May 18, 2021 news release).

 

Mario Stifano commented: "We are pleased to have the continued support of our
shareholders as we advance the Omagh Project towards production while also
exploring to expand our high-grade resources. The early exercise of Warrants
by many of our significant shareholders including Michael Gentile, Melquart
Ltd. and Eric Sprott, is a strong endorsement of the potential of our project,
while also allowing the Company to maintain a tight capital structure."

 

6,323,333 Common Shares are expected to be admitted to trading on AIM on
February 17, 2022 ("Admission").

 

Following Admission, the number of Common Shares in issue in the Company will
increase to 80,593,801.

 

About Galantas Gold Corporation

 

Galantas Gold Corporation is a Canadian public company that trades on the
TSX-Venture Exchange and the London Stock Exchange AIM market, both under the
symbol GAL. It also trades on the OTCQX Exchange under the symbol GALKF. The
Company's strategy is to create shareholder value by operating and expanding
gold production and resources at the Omagh Project in Northern Ireland.

 

Enquiries

 

Galantas Gold
Corporation

Mario Stifano: Chief Executive Officer

Email: info@galantas.com

Website: www.galantas.com

Telephone: +44(0)28 8224 1100

 

Grant Thornton UK LLP (AIM Nomad)

Philip Secrett, Harrison Clarke, George Grainger, Samuel
Littler

Telephone: +44(0)20 7383 5100

 

Panmure Gordon & Co (AIM Broker & Corporate Adviser)

Nick Lovering, Hugh Rich, John Prior

Telephone: +44(0)20 7886 2500

 

 

 

 

 

 

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