Galantas Gold Corporation

Published : April 08th, 2014

Galantas Gold Corporation: Share Consolidation and Private Placing to Raise £500,000

( 0 vote, 0/5 ) Print article
  Article Comments Comment this article Rating Follow Company  
0
Send
0
comment
Keywords :   Creditors | Debt | Gold | Jersey |

Galantas Gold Corporation: Share Consolidation and Private Placing to Raise £500,000

TORONTO, ONTARIO--(Marketwired - Apr 8, 2014) - Galantas Gold Corporation (TSX VENTURE:GAL) (GAL.L) ("Galantas" or the "Corporation") today announces that the Board is seeking regulatory approval of documents relating to the consolidation of the Corporation's issued and outstanding share capital (the "Consolidation"), exchange of shares for debt and the private placement of shares.

Galantas announced on 23rd January 2014 that the Consolidation was passed at a Special Meeting of Shareholders on 16th January 2014, with determination of the consolidation ratio by the Directors. The Directors have determined that the Consolidation will be on the basis of 5 old shares for 1 new share. The action is being undertaken to improve on the current trading price for the Company's securities as it falls below the minimum price requirements for private placements as set out by TSX Venture Exchange Corporate Finance Policy 4.1.

Subject to Exchange approvals, the consolidation is scheduled to be effective at opening on the TSX Venture Exchange and AIM on Monday 14th April 2014, from which date the existing issued share capital will be cancelled and replaced by the new Common Shares in consolidated form.

Application has been made for the Galantas Depositary Interests to be traded on AIM with effect from 14th April 2014 under the ISIN: CA36315W2022 and SEDOL: BKSZT76.

A private placement of new shares is expected to complete following consolidation. A minimum of 10 million units will be subscribed at UK£0.05 (five pence) / CDN$0.09375 per unit. Each unit will comprise 1 new ordinary share and 1 warrant (the "Placement"). Each warrant will entitle the holder to purchase 1 further new ordinary share at UK£0.10 (ten pence) per share for a period of two years from the date on which the subscription is closed. The Placement will raise a minimum of UK£500,000. The new ordinary shares issued pursuant to the Placement are subject to a four month hold period. The new ordinary shares and warrants to be issued pursuant to the placement represent approximately 23.2 per cent of the enlarged issued share capital (at the minimum placing amount).

Coincident with the placement (and following the Consolidation), subject to TSX Venture Exchange approval, the Corporation will also undertake an exchange of existing debt for new ordinary shares, as set out in the circular to shareholders issued 16th December 2013 and approved by Shareholders at the Special Meeting of Shareholders 16th January 2014. Roland Phelps (President & Chief Executive) will exchange a loan of CDN$1,346,730 (UK£716,256) for 14,365,120 new ordinary shares representing 16.6 per cent of the enlarged issued share capital. Leo O'Shaughnessy (Chief Financial Officer) will exchange a loan of CDN$30,046 for 320,491 new ordinary shares, representing 0.4 per cent of the enlarged issued share capital. Following the exchange of debt for equity Mr Phelps and Mr O'Shaughnessy will hold 24.9 per cent and 0.4 per cent of the Galantas enlarged issued share capital respectively (at the minimum placing amount). Loans due to certain other third party creditors have also agreed to settlement of amounts owed totalling UK£21,976, through the issue of 439,520 new ordinary shares, representing 0.5 per cent of the enlarged issued share capital. No Warrants will be attached to the new ordinary shares issued in relation to any of the equity for debt exchange.

In compliance with TSX Venture Exchange requirements, Galantas shareholders on the Canadian register will receive a Letter of Transmittal, which they are required to return, together with their original share certificate, for which they will then receive the issue of a new certificate. Galantas shareholders on the Jersey register will be mailed with new certificates without further action required on their part. Current share certificates will no longer be valid after close of business on 11h April 2014. The accounts of shareholders who hold shares or depositary interests in electronic form will be adjusted automatically.

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.

Read the rest of the article at finance.yahoo.com
Data and Statistics for these countries : Jersey | All
Gold and Silver Prices for these countries : Jersey | All

Galantas Gold Corporation

EXPLORATION STAGE
CODE : GAL.V
CUSIP : 298773
Follow and Invest
Add to watch list Add to your portfolio Add or edit a note
Add Alert Add to Watchlists Add to Portfolio Add Note
ProfileMarket
Indicators
VALUE :
Projects & res.
Press
releases
Annual
report
RISK :
Asset profile
Contact Cpy

Galantas is a gold development stage company based in Canada.

Galantas holds various exploration projects in Ireland and in Portugal.

Its main exploration properties are OMAGH - KEARNEY and OMAGH - OTHER DEPOSITS in Ireland and MONTEMOR in Portugal.

Galantas is listed in Canada, in United Kingdom and in United States of America. Its market capitalisation is CA$ 82.0 millions as of today (US$ 65.6 millions, € 57.5 millions).

Its stock quote reached its lowest recent point on April 03, 2020 at CA$ 0.01, and its highest recent level on May 28, 2021 at CA$ 0.89.

Galantas has 170 890 000 shares outstanding.

Your feedback is appreciated, please leave a comment or rate this article.
Rate : Average note :0 (0 vote) View Top rated
 
Annual reports of Galantas Gold Corporation
Annual Report 2007
Financings of Galantas Gold Corporation
3/14/2011Enters Into a Credit Facility With Kenglo One Limited to Fin...
4/11/2006Notification of exercise of warrants and application to list...
Option Grants of Galantas Gold Corporation
12/24/2007Appoints CFO, Awards Incentive Stock Options and Arranges Lo...
Financials of Galantas Gold Corporation
4/29/20102009 results and first quarter trading update
9/3/2009financial results for the second quarter
7/8/2009Increases gold production 65% in second quarter 2009 over Q2...
11/27/2008THIRD QUARTER RESULTS
Project news of Galantas Gold Corporation
6/22/2015Galantas receives encouraging exploration results on new ROI...
3/31/2008(Omagh - Other Deposits)progress at the Omagh Gold Mine
12/10/2007(Omagh - Kearney)CONFIRMS HIGH GRADE ZONE IN KEARNEY GOLD DEPOSIT
10/18/2007(Omagh - Kearney) Reports 3.6M of 22.29 G/T gold at Omagh
5/24/2007(Omagh - Kearney)Commissioning update
5/1/2007(Omagh - Kearney)Intersects 2.5m Grading 22.53g/t Gold at Omagh
Corporate news of Galantas Gold Corporation
6/10/2016Galantas closes over-subscribed private placement and share ...
5/27/2016Galantas announces over-subscribed private placement
5/24/2016Galantas reports results for Quarter 1 2016
5/11/2016Galantas announces a proposed private placement and shares f...
4/28/2016Galantas reports results for year ended December 31, 2015
1/25/2016Galantas drills largest high grade gold accumulation yet at ...
1/25/2016Galantas Drills 13 Metres of 9.9 g/t Gold on Omagh Property ...
11/5/2015Galantas Releases Additional Encouraging Exploration Results...
10/19/2015Potential Challenge to Planning Consent
10/13/2015Galantas Gold Corporation: Potential Challenge to Planning C...
9/16/2015Galantas Releases High Grade Gold Results Near Omagh Gold Mi...
9/11/2015Galantas Releases Encouraging Exploration Results on Republi...
9/11/2015Summary of Financial Results for the second quarter and firs...
9/10/2015Galantas Releases Encouraging Exploration Results on Republi...
8/27/2015Galantas Reports Results for the Three and Six Months Ended ...
7/27/2015Galantas Closes C$2.4 million Private placement. Mr. Ross Be...
7/27/2015Galantas Announces Closing of Private Placement
7/9/2015Galantas Private Placement C$2.4m : Ross Beaty makes importa...
7/6/2015Galantas Announces Private Placement
6/22/2015Galantas Receives Encouraging Exploration Results on Republi...
6/19/2015Small-cap Week, June 19
2/23/2015Galantas Closes Placement for £316,667
2/16/2015Galantas Closes Private Placement
2/4/2015Galantas announce private placement
2/4/2015Galantas Announces Private Placement
1/15/2015Galantas expects planning determination Q1 2015
1/9/2015Galantas Expects Planning Determination Q1 2015
12/5/2014Galantas enters into Gold Jewellery Premium Agreement
12/3/2014Galantas Enters Into Agreement for Gold Jewellery Premium
12/1/2014Galantas announces Q3 2014 results and gives planning update...
11/27/2014Galantas Reports Results for the Three and Nine Months Ended...
10/6/2014Galantas Identifies New High Grade Gold Targets Near to Omag...
9/4/2014Galantas Files Technical Study Showing Strong Economics at O...
8/20/2014Galantas Reports Results for the Three and Six Months Ended ...
7/28/2014Galantas Increases Gold Resources and Shows Strong Economics...
6/2/2014Galantas Gold Corporation: Completion of Shares for Debt Exc...
5/28/2014Galantas Reports Results for the Quarter Ended March 31, 201...
5/8/2014Galantas Gold Corporation: Completion of Private Placement
4/23/2014Galantas Reports Results for the Year Ended December 31, 201...
4/8/2014Galantas Gold Corporation: Share Consolidation and Private P...
10/10/2013Agrees Heads of Terms for Gold Jewellery Arrangement
8/27/2013Drills 2.8 Metres High Grade Gold on Joshua Vein
8/9/2013Announces Strategic Review
7/23/2013Files Increased Gold Resource Report on Omagh Property
6/24/2013Clean Environmental Reports on Omagh Gold-Mine
6/12/2013Announces 34% Increase in Resources at Omagh Gold Mine
5/28/2013Reports Results for the Quarter Ended March 31, 2013
4/23/2013Reports Results for the Year Ended December 31, 2012
1/8/2013Drills 2.4 Metres High Grade Gold on Joshua Vein
10/29/2012Drills 21.2 g/t Gold Over 1.1 Metres on Joshua Vein
9/25/2012Drills 14.2 g/t Gold Over 2.1 Metres on Joshua Vein
9/12/2012Green Light for Omagh Gold Mine Adit
7/5/2011Reports Record Second Quarter 2011 and Funds Drilling Out of...
4/6/2011Appoints Investor Relations Consultant and Grants Stock Opti...
3/31/2011Purchases Two Drill Rigs and Contracts Two Drill Rigs for Om...
2/14/2011Uprates Processing Plant and Looks to Expand Exploration Pro...
5/22/2009Further upgrades mining equipment and increases production
6/13/2008OUTLINES RESOURCES REVIEW FOR OMAGH GOLD MINE, NORTHERN IREL...
10/4/2007Details Falconbridge Payments and Goldsmiths Order
10/3/2007Total Volting Rights
8/10/2007 Recognises expansion of Kearney Vein System
4/20/2007Progress towards production and commencement of concentrate ...
Comments closed
 
Latest comment posted for this article
Be the first to comment
Add your comment
TSX-V (GAL.V)LSE (GAL.L)
0.480+4.35%32.00+6.67%
TSX-V
CA$ 0.480
05/16 16:37 0.020
4.35%
Prev close Open
0.460 0.480
Low High
0.460 0.500
Year l/h YTD var.
0.450 -  0.750 -5.88%
52 week l/h 52 week var.
0.350 -  0.860 -12.73%
Volume 1 month var.
65,360 -31.43%
24hGold TrendPower© : -11
Produces
Develops
Explores for Gold
 
 
 
Analyse
Interactive chart Add to compare
Interactive
chart
Print Compare Export
You must be logged in to use the porfolio and watchlists (free)
Top Newsreleases
MOST READ
Annual variation
DateVariationHighLow
2022-30.43%
2021176.00%0.890.22
2020900.00%0.450.01
2019-73.68%0.150.02
201826.67%0.150.08
 
5 years chart
 
3 months chart
 
3 months volume chart
 
 
Mining Company News
Plymouth Minerals LTDPLH.AX
Plymouth Minerals Intersects Further High Grade Potash in Drilling at Banio Potash Project - Plannin
AU$ 0.12-8.00%Trend Power :
Santos(Ngas-Oil)STO.AX
announces expected non-cash impairment
AU$ 8.26+2.10%Trend Power :
Oceana Gold(Au)OGC.AX
RELEASES NEW TECHNICAL REPORT FOR THE HAILE GOLD MINE
AU$ 2.97-0.34%Trend Power :
Western Areas NL(Au-Ni-Pl)WSA.AX
Advance Notice - Full Year Results Conference Call
AU$ 3.84+0.13%Trend Power :
Canadian Zinc(Ag-Au-Cu)CZN.TO
Reports Financial Results for Q2 and Provides Project Updates
CA$ 0.12+4.55%Trend Power :
Stornoway Diamond(Gems-Au-Ur)SWY.TO
Second Quarter Results
CA$ 0.02+100.00%Trend Power :
McEwen Mining(Cu-Le-Zn)MUX
TO ACQUIRE BLACK FOX FROM PRIMERO=C2=A0
US$ 0.51+1.79%Trend Power :
Rentech(Coal-Ngas)RTK
Rentech Announces Results for Second Quarter 2017
US$ 0.20-12.28%Trend Power :
KEFIKEFI.L
Reduced Funding Requirement
GBX 0.70-2.08%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
CA$ 0.04+0.00%Trend Power :
Imperial(Ag-Au-Cu)III.TO
Closes Bridge Loan Financing
CA$ 3.60+0.00%Trend Power :
Guyana Goldfields(Cu-Zn-Pa)GUY.TO
Reports Second Quarter 2017 Results and Maintains Production Guidance
CA$ 1.84+0.00%Trend Power :
Lundin Mining(Ag-Au-Cu)LUN.TO
d Share Capital and Voting Rights for Lundin Mining
CA$ 10.23+4.18%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
CA$ 0.29+0.00%Trend Power :
Havilah(Cu-Le-Zn)HAV.AX
Q A April 2017 Quarterly Report
AU$ 0.33+100.00%Trend Power :
Uranium Res.(Ur)URRE
Commences Lithium Exploration Drilling at the Columbus Basin Project
US$ 6.80-2.86%Trend Power :
Platinum Group Metals(Au-Cu-Gems)PTM.TO
Platinum Group Metals Ltd. Operational and Strategic Process ...
CA$ 1.76+1.15%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
US$ 70.94+3.26%Trend Power :
Precision Drilling(Oil)PD-UN.TO
Announces 2017Second Quarter Financial Results
CA$ 8.66-0.35%Trend Power :
Terramin(Ag-Au-Cu)TZN.AX
2nd Quarter Report
AU$ 0.05+6.67%Trend Power :