Galantas successfully raises $100m for Chile gold, copper exploration
TSX-V-listed Galantas Gold Corporation has completed its previously announced private placement of 181-million units at a price of $0.55 apiece for aggregate gross proceeds of $100-million.
Each unit comprises one common share of the company and one-half of one Galantas share purchase warrant. Each warrant entitles the holder thereof to purchase one Galantas share for $0.80 apiece for a period of 24 months.
Galantas intends to use the net proceeds of the offering to fund exploration and development work on the Indiana gold and copper project, as well as the Andacollo gold project, both in Chile.
Galantas is still in the process of acquiring the Andacollo project. Should shareholders not approve the deal or it is terminated otherwise, the net proceeds of the offering meant for Andacollo will be reallocated for spending elsewhere.
Galantas CEO Mario Stifano says the placement received strong support from strategic shareholders including Eric Sprott, Ocean Partners and Melquart.
"Galantas has the financial strength to rapidly advance both the Indiana and Andacollo projects upon completion of the Andacollo acquisition. These funds will enable us to accelerate exploration and development with the goal of achieving production in early 2027. We are grateful for the continued support of our existing shareholders and new investors as we focus on delivering shareholder value by bringing our projects to production," Stifano concludes.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
For over 60 years, VEGA has provided industry-leading products for the measurement of level, density, weight and pressure. As the inventor of the...
VISIT SHOWROOM
For over 15 years, Lilak Aluminium, a trusted leader in architectural extrusion supply, has delivered excellence to businesses like yours.
VISIT SHOWROOM
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
