Exercise of Warrants and PDMR Share Dealing

RNS Number : 7343D

Galantas Gold Corporation

01 July 2021

 

GALANTAS GOLD CORPORATION

Exercise of Warrants and PDMR Share Dealing

June 30, 2021. Galantas Gold Corporation ("TSX-V: GAL; AIM: GAL) ("Galantas" or the "Company") reports that it received notification of exercise of warrants ("Warrants") from Ocean Partners UK Ltd ("Ocean Partners") on June 28, 2021 for 1,000,000 new common shares of nil par value ("Common Shares") at a price of C$0.33 per Common Share. The exercise notice relates to 1,700,000 Warrants granted to Ocean Partners, due to expire on December 31, 2023.

The 1,000,000 Common Shares are expected to be admitted to trading on AIM on or around ("Admission") July 6, 2021.

The Company also reports it received notification on June 29, 2021 that Ocean Partners have sold 1,000,000 Common Shares at a price of C$0.735 per Common Share ("Sale") to facilitate the positioning of a strategic investor.

Following Admission and the Sale, Ocean Partners will be interested in a total of 1,708,334 Common Shares representing 2.3% of the Company's then issued share capital.

The Company also reports that further to the announcement released on 3 June 2021 in relation to the appointment of Brent Omland as a Director of the Company, Mr. Omland's direct shareholding in the Company at the time of his appointment was 33,334 Common Shares.

Ocean Partners is a person closely associated with Brent Omland, a Director of Galantas (within the meaning of the EU Market Abuse Regulation). Mr. Omland is CFO of Ocean Partners and is a nominee of Ocean Partners on the board of Galantas and holds a minority stake in and is a director of Ocean Partners' parent entity. Following Admission and the Sale Mr. Omland's direct shareholding in the Company will be 33,334 Common Shares representing 0.05% of the Company's issued share capital and his indirect interest in the Company will be 1,708,334 Common Shares representing  2.3%.

Total Voting Rights

Following Admission, the number of Common Shares in issue in the Company will increase to 74,270,468. For the purposes of the Financial Conduct Authority's Disclosure and Transparency Rules ("DTRs"), the issued share capital of Galantas following this allotment will consist of 74,270,468Common Shares with voting rights attached (one vote per share).

The information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014.

The notification set out below, made pursuant to Article 19(3) of the Market Abuse Regulation which is part of UK law by virtue of the European Union (withdrawal) Act 2018, provides further details.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU No. 596/2014) which is part of UK law by virtue of the European Union (withdrawal) Act 2018. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

Enquiries

Galantas Gold Corporation     Mario Stifano: Chief Executive Officer

Email: [e-mail]  Website:  www.galantas.com   Telephone: [phone]

Grant Thornton UK LLP (AIM Nomad)    

Philip Secrett, Harrison Clarke, George Grainger   

Telephone: [phone]   

Panmure Gordon & Co (AIM Broker & Corporate Adviser)

Nick Lovering, Hugh Rich

Telephone: [phone]  

(UK) DEALING NOTIFICATION FORM
 FOR USE BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY AND THEIR CLOSELY ASSOCIATED PERSONS

1.	Details of the person discharging managerial responsibilities/person closely associated
a)	Name:	Ocean Partners UK Ltd
2.	Reason for the notification
a)	Position/status:	Ocean Partners UK Ltd is a person closely associated with Brent Omland, a Director of Galantas
b)	Initial notification/Amendment:	Initial Notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name:	Galantas Gold Corporation
b)	LEI:	LEI: 213800JKVPLLKO4KVB93
4.	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument type of instrument Identification Code	Common Shares of nil par value ISIN: CA36315W3012
b)	Nature of the transaction	Exercise of warrants
c)	Price(s) and volume	Price Volume C$ 0.33 1,000,000
d)	Aggregated information	N/A single transaction
e)	Date of the transaction	June 28, 2021
f)	Place of the transaction	Outside of a trading venue

1.	Details of the person discharging managerial responsibilities/person closely associated
a)	Name:	Ocean Partners UK Ltd
2.	Reason for the notification
a)	Position/status:	Ocean Partners UK Ltd is a person closely associated with Brent Omland, a Director of Galantas
b)	Initial notification/Amendment:	Initial Notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name:	Galantas Gold Corporation
b)	LEI:	LEI: 213800JKVPLLKO4KVB93
4.	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument type of instrument Identification Code	Common Shares of nil par value ISIN: CA36315W3012
b)	Nature of the transaction	Sale of Common Shares
c)	Price(s) and volume	Price Volume C$ 0.735 1,000,000
d)	Aggregated information	N/A single transaction
e)	Date of the transaction	June 29, 2021
f)	Place of the transaction	Toronto Stock Exchange

 

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