Galantas Gold Corporation (LSE:GAL) has announced a brokered private placement aiming to raise up to $85 million through the issue of as many as 154,546,000 units priced at $0.55 each. Every unit will include one common share and one-half of a warrant, with each full warrant exercisable at $0.80 over a 24-month period.
The company has also granted the placement agent an option to issue up to an additional 27,273,000 units, which could generate a further $15 million in proceeds. Completion of the financing is targeted for 28 May 2026, subject to approval from the TSX Venture Exchange and other customary closing conditions.
Galantas said the proceeds will be used to support exploration and development activities at the Indiana Gold and Copper Project and the Andacollo Gold Project in Chile, alongside broader corporate and working capital requirements. The financing will include participation from company insiders, making it a related-party transaction under Canadian securities regulations. However, the company intends to rely on available exemptions due to the transaction’s limited size relative to its market capitalisation. Management said the fundraising reflects both the capital demands tied to advancing its Chilean asset portfolio and the ongoing backing of insiders.
More About Galantas Gold
Galantas Gold Corporation is a publicly listed precious metals exploration and development company focused on gold and copper projects in established mining jurisdictions. The group is advancing the Indiana Project in Chile and has entered into a definitive agreement to acquire the Andacollo Project, pursuing a strategy centred on disciplined capital deployment and the responsible development of high-quality mineral assets.
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