Galantas Gold Announces C$13.5 Million Upsized Financing and Provides Update on Acquisition of RDL Mining Corp.

On November 21, 2025, Galantas Gold announced an upsized brokered private placement for gross proceeds of C$13.5 million, a significant increase from the C$7 million financing announced on November 13, 2025. The financing consists of 168,750,000 units at a price of C$0.08 per unit. Each unit includes one common share and one common share purchase warrant, with each warrant exercisable at C$0.12 for a period of 36 months.

The proceeds are intended to fund exploration work and option payments for the Indiana Gold-Copper Project in Chile, which the company is acquiring via the acquisition of RDL Mining Corp, as well as for general corporate and working capital purposes.

This news is materially positive for Galantas Gold. The ability to nearly double the size of the financing from C$7 million to C$13.5 million indicates strong investor demand for the company's new strategic direction focused on the Indiana Project in Chile.

• Positives: The upsized financing provides the company with a much stronger balance sheet than initially anticipated. With C$13.5 million in gross proceeds, Galantas is well-capitalized to make the required option payments on the Indiana Project (US$15 million over 5 years), fund a significant exploration program to define a compliant resource, and cover corporate overhead for the foreseeable future. This removes any immediate financing overhang and allows management to focus on execution.

• Critical Assessment & Context: This financing must be viewed in the context of the company's recent history. Galantas was in "serious financial difficulty" and effectively handed over an 80% controlling interest in its flagship Omagh Project to its creditor, Ocean Partners, just two months prior (September 2025) to settle approximately US$14 million in debt. The pivot to Chile represents a complete strategic reset.

  The acquisition of RDL Mining and this financing are massively dilutive. The pre-transaction share count of ~132.4 million will balloon to over 433 million shares post-closing. While the financing is necessary, it comes at a significant cost to existing shareholders. Furthermore, the Indiana Project's value is currently based on a "historical inferred resource" which is not compliant with NI 43-101 standards and cannot be relied upon. The company is raising C$13.5 million to explore a project that has no modern, verified economic study or resource estimate.

In conclusion, while the financing itself is a significant positive step that enables the company's turnaround plan, it is financing a very high-risk venture. The market is showing confidence, but this is a bet on a new, unproven asset by a management team whose previous flagship project ended in a debt restructuring that ceded control.

Galantas Gold Corporation was historically focused on the development and operation of the Omagh Gold Project in Northern Ireland. After facing significant financial challenges and accumulating substantial debt, the company restructured in September 2025. It formed a joint venture with its primary lender, Ocean Partners, who converted ~US$14 million of debt into an 80% controlling interest in the Omagh Project.

Following this restructuring, Galantas has pivoted its strategy entirely. Its new flagship initiative is the acquisition of an option to earn a 100% interest in the Indiana Gold-Copper Project in Chile, through the all-share acquisition of RDL Mining Corp. This project is described as having historical high-grade gold-copper resources, but it lacks a current NI 43-101 compliant resource estimate. The property is subject to a 2% Net Smelter Return (NSR) royalty retained by the vendors.