On August 30, 2022, Galantas Gold Corporation closed a private placement of (i) 14,826,674 units at a price of $0.45 per unit for gross proceeds of approximately $6.7 million and (ii) 506,667 units at a price of $0.45 per unit on a non-brokered private placement basis for gross proceeds of $228,000, for aggregate gross proceeds of approximately $6.9 million, which includes the full exercise of the agents’ option.
Each unit consists of one common share in the capital of Galantas and one-half of one common share purchase warrant. Each warrant will entitle the holder thereof to purchase one common share at a price of $0.55 per warrant share until February 28, 2025.
The offering was conducted on a “best efforts” basis led by Canaccord Genuity Corp., Cormark Securities Inc. and Research Capital Corporation.
Cassels acted for the agents.