Galantas Gold Announces Convertible Debenture Conversion
May 15 2024 - 2:00AM
Galantas Gold Corporation (TSX-V & AIM: GAL; OTCQX: GALKF)
(“Galantas” or the “Company”) announces that US$60,000 of
convertible debentures, as detailed in releases dated November 9,
2023 and December 20, 2023 (the “Debentures”) and approved by the
TSX Venture Exchange, have been converted into common shares of the
Company.
The Debentures are convertible at the option of
the holder thereof into common shares in the capital of the Company
at a conversion price of US$0.255 per Conversion Share. The
Debentures bear interest at a minimum interest rate of 10% per
annum.
As governed by the Debentures, 235,294 common
shares of no par value (“Common Shares”) have been issued at a
price of US$0.255.
The Company has applied for admission of the
Common Shares in connection with the Debenture to trading on the
AIM market of the London Stock Exchange ("Admission") with
Admission expected to occur on or around May 16, 2024.
Following Admission, the Company will have
US$5,278,000 in Debentures remaining in issue. The total number of
Common Shares of the Company following Admission will be
114,770,587.
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.
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, and exploring the Gairloch Project hosting the Kerry Road
gold-bearing VMS deposit in Scotland.
Enquiries
Galantas Gold CorporationMario Stifano: Chief
Executive OfficerEmail: info@galantas.comWebsite:
www.galantas.comTelephone: +44(0)28 8224 1100
Grant Thornton UK LLP (AIM Nomad)Philip Secrett,
Harrison Clarke, Enzo Aliaj, Elliot PetersTelephone: +44(0)20 7383
5100
SP Angel Corporate Finance LLP (AIM Broker)David
Hignell, Charlie Bouverat (Corporate Finance)Grant Barker (Sales
& Broking) Telephone: +44(0)20 3470 0470
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