GALANTAS GOLD ANNOUNCES
CONVERTIBLE DEBENTURE CONVERSION
May 15, 2024, TORONTO, CANADA -
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 Corporation
Mario Stifano: Chief Executive Officer
Email: info@galantas.com
Website: www.galantas.com
Telephone: +44(0)28 8224 1100
Grant Thornton UK LLP (AIM Nomad)
Philip Secrett, Harrison Clarke, Enzo Aliaj, Elliot
Peters
Telephone: +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
