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The latest announcement is out from Galantas Gold ( (TSE:GAL) ).
Galantas Gold Corporation has launched a brokered private placement to raise up to $85 million through the issuance of up to 154,546,000 units at $0.55 per unit, each comprising one common share and half a warrant exercisable at $0.80 for 24 months. The company has also granted its agent an option to sell up to an additional 27,273,000 units for up to $15 million in extra proceeds, with closing targeted for May 28, 2026, subject to TSX Venture Exchange approval and customary conditions.
The net proceeds will fund exploration and development at the Indiana Gold and Copper Project and the Andacollo Gold Project in Chile, as well as general corporate and working capital needs. Insider participation will make the financing a related-party transaction under Canadian securities rules, but Galantas plans to rely on exemptions given the limited size relative to its market capitalization, underscoring both its capital-intensive growth plans in Chile and the continued financial backing of its insiders.
More about Galantas Gold
Galantas Gold Corporation is a publicly traded precious metals company focused on acquiring, developing and advancing gold and copper assets in stable mining jurisdictions. The company is currently advancing the Indiana Project in Chile and has a definitive agreement to acquire the Andacollo Project, pursuing a strategy of disciplined capital allocation and responsible development of high-quality mineral assets.
Learn more about GAL stock on TipRanks’ Stock Analysis page.