Galantas Gold Corporation GALANTAS CLOSES SECOND PART OF PRIVATE PLACEMENT (2882Y)
March 02 2017 - 2:00AM
UK Regulatory
TIDMGAL
RNS Number : 2882Y
Galantas Gold Corporation
02 March 2017
GALANTAS GOLD CORPORATION
TSXV and AIM: Stock Symbol - 'GAL'
GALANTAS CLOSES SECOND PART OF PRIVATE PLACEMENT
Date : 2 March 2017. Galantas Gold Corporation (the "Company"),
the AIM and TSXV quoted gold producer and explorer with a 100%
interest in Northern Ireland's Omagh gold mine, announces that the
second part of the private placement as previously outlined in a
disclosure dated 27 February 2017, has closed.
As previously anticipated, in the second part of the placement,
the Company issued 5,722,222 common shares of no par value ("Common
Shares") for receipt of CDN$424,798 (UKGBP257,500 at CDN$1.6497)
("the Placing").
A four month hold period will apply. The hold period will expire
for the second closing of the Placing on 3 July 2017. The shares
issued pursuant to the Placing will rank pari passu with the
existing Common Shares in issue of the Company.
Melquart Ltd, ("Melquart") a UK based investment institution,
subscribed for 5,722,222 Common Shares and was the only subscriber
in the second closing of the Placing. The purchase increases
Melquart's stake to 13% of the Company's issued Common Shares.
The Company has applied for admission of the Common Shares in
connection with the first closing of the Placing to trading on the
AIM market of the London Stock Exchange ("Admission") with
Admission expected to occur on or around 7 March 2017.
Following Admission and the second closing, Galantas Gold
Corporation's Issued and Outstanding Common Shares total
170,894,087.
Roland Phelps, President & CEO, Galantas Gold Corporation,
said, "We see the development of an underground gold mine at Omagh
as an exciting investment opportunity. I am delighted that Melquart
has joined our shareholder base to assist in helping to bring the
opportunity to fruition."
The net proceeds raised by the Placing are intended to be used
for working capital purposes and to commence underground
development at the Omagh gold mine.
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.
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) No 596/2014.
Enquiries : Galantas Gold Corporation
L. Jack Gunter P.Eng - Chairman, Roland Phelps C.Eng - President
& CEO
Email: info@galantas.com Telephone: (UK) +44 (0) 2882 241100
Website: www.galantas.com
Grant Thornton UK LLP (Nomad)
Philip Secrett, Richard Tonthat: Telephone: +44(0)20 7383
5100
Whitman Howard Ltd (Broker & Corporate Adviser)
Nick Lovering, Grant Barker: Telephone: +44(0)20 7659 1234
This information is provided by RNS
The company news service from the London Stock Exchange
END
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