Galantas Gold Reveals Purchase of RDL Mining Corp. and Opportunity to Advance Indiana Gold-Copper Project in Chile, Alongside Private Placement to Secure Up to $7 Million
Transaction Overview: Galantas Gold Corporation has entered into a share purchase agreement to acquire RDL Mining Corp., which will enhance its position in advancing the Indiana gold-copper project in Chile, leveraging RDL's option to acquire a 100% interest in the project.
Indiana Project Details: The Indiana Project, located in a prolific mining district, includes an operating mine with significant historical resources and exploration potential, supported by previous drilling and geological studies.
Management and Board Changes: Following the transaction, seasoned mining professionals Lawrence Roulston and Robert Sedgemore will join Galantas's leadership team, enhancing the company's operational capabilities and strategic direction.
Concurrent Financing Plans: Galantas plans to raise up to $7 million through a private placement to fund exploration and development activities at the Indiana Project, with completion expected around December 4, 2025, subject to regulatory approvals.
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Galantas Gold Corporation Upsizes Private Placement to C$13.5 Million
- Increased Financing Size: Galantas Gold has upsized its private placement to C$13.5 million due to strong investor demand, with each unit priced at C$0.08.
- Transaction Progress: The company plans to acquire RDL Mining, issuing approximately 132 million common shares, with completion expected in Q4 2025.
