Galantas Gold Announces $85 Million Private Placement

• Galantas Gold Corporation announced a brokered private placement to raise up to $85 million, with an additional $15 million over‑allotment option.
• Units are priced at $0.55 each; each unit comprises one common share and one‑half of one share purchase warrant.
• Each full warrant has an exercise price of $0.80, a 24‑month term from closing, and an acceleration clause if the stock trades above $1.00 for ten consecutive days.
• Proceeds are earmarked for exploration and development at the Indiana Gold and Copper Project and the Andacollo Gold Project in Chile, plus general working capital.
• The financing is led by Canaccord Genuity Corp. as agent and bookrunner; insiders are expected to participate. Closing is targeted for May 28, 2026.

This $85 million raise is a material positive development. It directly addresses the single largest uncertainty that has hung over Galantas since the January 2026 Andacollo acquisition announcement: how to finance the US$32 million staged cash consideration and subsequent development costs. By securing the full amount—at a price ($0.55) that, while dilutive, sits within the recent trading range and above the long‑standing floor—the company removes a major overhang and signals that an institutional bookrunner (Canaccord) is willing to back the project.

Although the unit price is a discount to the recent spike high ($0.61) and the raised capital will cause significant share count expansion, the market had already priced in a large equity raise. The fact that it came in at $0.55 with the full over‑allotment option demonstrates strong demand. In the context of previous news, this financing represents the execution of the stated strategy to fund Andacollo, and it locks in the capital needed to advance both Chilean projects. The dilution is substantial, but the removal of funding risk and the validation of the Chilean pivot outweigh the near‑term share overhang.

Galantas Gold Corporation is a precious‑metals explorer and developer that has undergone a strategic pivot away from its Northern Ireland Omagh mine toward Chile. Through a series of transactions in late 2025 and early 2026, the company acquired an option to develop the Indiana gold‑copper project (via RDL Mining Corp.) and entered an agreement to purchase the past‑producing Andacollo Oro gold project. Today, the flagship asset is the Andacollo Oro Gold Project in the Coquimbo Region of Chile—a brownfield, open‑pit heap‑leach operation that previously produced ~1.12 Moz Au until 2014. The updated Mineral Resource Estimate (effective Feb 2026) shows 1.47 Moz Au Indicated and 4.54 Moz Au Inferred for a combined ~6 Moz gold. Existing infrastructure, permits, and a large exploration upside (including a possible copper‑porphyry extension) make it a scalable, long‑life project.

The Indiana Gold‑Copper Project (Atacama Region) contributes higher‑grade, underground‑style gold‑copper veins with an inferred resource of 4.93 Mt @ 2.24 g/t Au and 1.31% Cu, and a PEA underway. The Omagh project in Northern Ireland has been largely deconsolidated through an 80% JV with Ocean Partners, with Galantas retaining a 20% carried interest and an optional royalty conversion.