Galantas Gold Corporation (AIM:GAL) has completed a private placement of 181.82m units at $0.55 per Unit for gross proceeds of $100m, with the Agents' Option fully exercised.
Each Unit comprises one common share and one-half of a warrant, with each whole warrant exercisable at $0.80 for 24 months.
Net proceeds are earmarked to fund exploration and development at the Indiana Gold and Copper Project and the Andacollo Gold Project in Chile, subject to completion of the Andacollo Acquisition.
"Galantas has the financial strength to rapidly advance both the Indiana Gold and Copper project and the Andacollo Gold project in Chile upon completion of the Andacollo Acquisition," Mario Stifano, Chief Executive Officer, said.
