Galantas Gold Corporation received C$264,333.60 (£174,000) from the early exercise of 700,000 warrants at C$0.33 and 83,334 warrants at C$0.40 by investor Ocean Partners UK Ltd.
Following admission, Ocean Partners will have a 4,116,668 common shares representing 4% of the company’s issued share capita.
The number of common shares in issue in the Canadian miner will be 102,862,143.
Notification was given on 29 August 2022.
PLACEMENT
The warrant exercise follows closing on 30 August of the previously announced placing for proceeds of C$6.9 million (£4.5m).
Investment firm and existing shareholder Melquart Ltd acquired 2,666,667 units for C$1,200,000.15. Melquart now holds 28,140,195 common shares, representing 27.36% of Galantas Gold.
Gold and silver investor Eric Sprott, through 2176423 Ontario Ltd, a corporation beneficially owned by him, acquired 1,333,334 units for C$600,000.30. Mr Sprott now holds 10,166,667 shares or 9.88% of Galantas Gold.
Retired money manager Michael Gentile acquired 222,222 units for C$99,999,90 to hold 6,217,222 shares, representing 6.04% of the company.
Mr Gentile has more than 20 years’ experience investing in the mining and natural resource sector and is currently an active investor in the junior mining space with significant positions in a number of companies.
Ocean Partners UK Ltd acquired 461,112 units for C$207,500.40 and now holds 2,869,446 shares or 2.80% stake.
Galantas Gold chief executive and director Mario Stifano acquired 55,556 units for C$25,000.20 to own 547,388 shares or 0.53% stake.