The recently announced placement undertaken by Galantas Gold Corporation (LON:GAL)(CVE:GAL) is to close in two parts to comply with Canadian stock exchange regulations.
Galantas announced the initial terms of the C$2.44 mln placing on 18 January this year.
It has now revealed that the first part of the placement process has completed, and that receipts attached to the first part total just over C$2 mln.
UK placees paid £0.045 per share, while Canadian placees paid C$0.0725 per share.
The second part of the placement requires acceptance of the TSX Venture Exchange and is anticipated to be for just over 5.7 mln new shares for receipt of C$424,798.
Major participants include Melquart Ltd, a UK-based investment institution, and Ross Beaty, the well-known Canadian mining investor.
“I am delighted to welcome new London financial institutions to our shareholder list and welcome the increased participation by Ross Beaty and other investors,” said chief executive Roland Phelps.
“The funding allows us to immediately commence underground development of the Omagh gold-mine.”
Story by ProactiveInvestors