logo-loader
viewGalantas Gold Corp

Galantas Gold to strengthen finances with placing and loan extension

The mine at Omagh continues to deliver limited production of gold concentrate from the processing of low-grade stock

Galantas Gold Corp -

Galantas Gold Corporation (LON:GAL) is to raise up to £350,000 through a private placing in the UK and Canada at 13.28p (C22.5c).

Provisional indications have been received for C$457,469 (UK£270,000), the junior said, while a four-month plus one day hold period will apply to the shares.

 Galantas added it has agreed on terms, subject to final documentation, of an increase in the outstanding loan with Ocean Partners UK by US$$200,000 to a total of US$$1.8min.

The interest rate applicable on the Ocean Loan will rise to US$12 month LIBOR + 9.9% while the maturity date will be extended from 30 December 2020 to 31 December 2021.

The existing second charge debenture over mine assets will remain in place.

Galantas added that the mine at Omagh continues to deliver limited production of gold concentrate from the processing of low-grade stock.

Quick facts: Galantas Gold Corp

Price: 17.75 GBX

AIM:GAL
Market: AIM
Market Cap: £5.74 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Galantas Gold Corp named herein, including the promotion by the Company of Galantas Gold Corp in any Content on the Site, the Company receives...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Galantas Gold reaches blasting agreement with PSNI for its gold mine near Omagh

Galantas Gold Corporation's (LON:GAL)(CVE:GAL) Roland Phelps speaks to Proactive London's Andrew Scott after reaching an agreement with the Police Service of Northern Ireland (PSNI) regarding blasting at its 100% owned gold mine near Omagh, Northern Ireland. He says they're planning to...

on 13/5/20

2 min read