IN BRIEF: Galantas Gold plans fund raise to further development work

Galantas Gold Corp - mining and exploration company, focused on producing gold and copper from its assets in Northern Ireland and Chile - Plans to raise up to USD85 million via a brokered private placement at a price of USD0.55 per unit. Canaccord Genuity Corp will act as sole bookrunner and lead agent. Each unit will comprise one common share of Galantas and one-half of one Galantas share purchase warrant. Each whole warrant will entitle the holder to buy one Galantas Share for USD0.80 for a period of 24 months from the closing date of the financing. Canaccord Genuity has the option to sell shares worth up to USD15 million. Proceeds will be used to fund exploration and development work on the Indiana Gold and Copper Project and the Andacollo Gold Project in Chile, and for general corporate and working capital purposes. Closing of the offer is expected on May 28.

Current stock price: 30.60 pence

12-month change: multiplied from 3.50p

By Jeremy Cutler, Alliance News reporter

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