Galantas Gold Corporation received gross proceeds of CAD$503,600 after receiving notices to exercise by the company’s former president and chief executive.
The early exercise of 920,000 warrants was at an exercise price of CAD$0.33 by G&F Phelps Ltd, a company wholly owned by Roland Phelps.
The company received a further notice to exercise 500,000 warrants at CAD$0.40 by shareholder Michael Gentile.
The shares to be issued for the exercise of the 920,000 warrants by G&F Phelps Ltd. will be registered to Roland Phelps in trust for G&F Phelps Ltd.