Galantas Gold Corporation Exercise of Warrants (8058X)

TIDMGAL

RNS Number : 8058X

Galantas Gold Corporation

31 August 2022

Exercise of Warrants

August 31, 2022, TORONTO, CANADA - Galantas Gold Corporation (TSX-V & AIM: GAL; OTCQX: GALKF) ("Galantas" or the "Company") announces it received notification on 29 August 2022 of the early exercise of 700,000 warrants at an exercise price of CAD$0.33 and 83,334 warrants at an exercise price of CAD$0.40 by Ocean Partners for gross proceeds of C$264,333.60.

700,000 Common Shares are expected to be admitted to trading on AIM on September 6, 2022 ("Admission"). 83,334 Common Shares are included in the May 14, 2021 Warrants Block Admission Scheme announced on June 9, 2022.

Following Admission, Ocean Partners will be interested in a total of 4,116,668 Common Shares representing 4.0% of the Company's issued share capital and the number of Common Shares in issue in the Company will be 102,862,143.

Further details of the PDMR dealings are included below. This information has been provided in accordance with Article 5(1)(b) of the Market Abuse Regulation (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018.

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: [e-mail]

Website: www.galantas.com

Telephone: [phone]

Grant Thornton UK LLP (AIM Nomad)

Philip Secrett, Harrison Clarke, George Grainger, Samuel Littler

Telephone: [phone]

Panmure Gordon & Co (AIM Broker & Corporate Adviser)

Nick Lovering, Hugh Rich, John Prior

Telephone: [phone]

(UK) DEALING NOTIFICATION FORM

FOR USE BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY AND THEIR CLOSELY ASSOCIATED PERSONS

 
 1.    Details of the person discharging managerial responsibilities/person 
        closely associated 
 a)    Name:                                  Ocean Partners 
      -------------------------------------  -------------------------------- 
  2.   Reason for the notification 
      ----------------------------------------------------------------------- 
 a)    Position/status:                       Ocean Partners is a person 
                                               closely associated with 
                                               Brent Omland, a Director 
                                               of Galantas 
      -------------------------------------  -------------------------------- 
 b)    Initial notification/Amendment:        Initial Notification 
      -------------------------------------  -------------------------------- 
 3.    Details of the issuer, emission allowance market participant, 
        auction platform, auctioneer or auction monitor 
      ----------------------------------------------------------------------- 
 a)    Name:                                  Galantas Gold Corporation 
      -------------------------------------  -------------------------------- 
 b)    LEI:                                   LEI: 213800JKVPLLKO4KVB93 
      -------------------------------------  -------------------------------- 
 4.    Details of the transaction(s): section to be repeated 
        for (i) each type of instrument; (ii) each type of 
        transaction; (iii) each date; and (iv) each place 
        where transactions have been conducted 
      ----------------------------------------------------------------------- 
 a)    Description of the financial           Common Shares of nil par 
        instrument type of instrument          value 
        Identification Code 
                                               ISIN: CA36315W3012 
      -------------------------------------  -------------------------------- 
 b)    Nature of the transaction              Exercise of warrants 
      -------------------------------------  -------------------------------- 
 c)    Price(s) and volume                     Price      Volume 
                                                C$ 0.40    83,334 
                                                C$0.33     700,000 
      -------------------------------------  -------------------------------- 
 d)    Aggregated information                 783,334 shares at a weighted 
                                               average price of C$0.38 
      -------------------------------------  -------------------------------- 
 e)    Date of the transaction                August 29, 2022 
      -------------------------------------  -------------------------------- 
 f)    Place of the transaction               Outside of a trading venue 
      -------------------------------------  -------------------------------- 
 

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August 31, 2022 09:42 ET (13:42 GMT)