Galantas Gold Corp - SHARE CONSOLIDATION AND UPDATES ON OPERATIONS
TSXV and AIM: Stock Symbol - 'GAL'
GALANTAS SCHEDULES SHARE CONSOLIDATION AND UPDATES ON OPERATIONS
The Consolidation was approved by shareholders at a special meeting of shareholders (the "Special Meeting") held on
Letters of transmittal with respect to the Consolidation will be mailed shortly to all shareholders of the Company on the main Canadian register of the Company. All shareholders who submit a duly completed letter of transmittal along with their respective share certificate(s) representing the pre-consolidated Shares to the Company's transfer agent,
Shareholders on the Jersey sub-register of the Company will automatically receive, expected to be within 7 days, a new share certificate representing post-consolidation Shares, with the former certificates being null and void. Holders of Depositary Interests will automatically have holdings adjusted accordingly.
The Consolidation will become effective at close of business on 8 April 2020. Application will be made for 32,322,622 common shares to be admitted to trading on AIM. Dealings in the new common shares are expected to commence on or around 08:00 (
Operational Update :
The Company continues to meet safety and environmental standards.
Processing (milling) operations have temporarily ceased. A potential re-start has been provisionally scheduled in 4 to 6 weeks, subject to health advice. Concentrate production will be adversely affected and the Company will apply for potential
Confirmation has been received from the Police Service of
Potential Corporate Actions
A number of parties have expressed an interest in the Company in terms of a potential purchase or joint venture. Due diligence is being carried out on a remote basis at present but full assessments will inevitably be delayed during the current health emergency as travel is restricted.
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014.
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Quick facts: Galantas Gold Corp
Market Cap: £5.8 m
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