Eric Sprott Announces Changes to His Holdings of Galantas Gold Corporation

Executive Summary

• Eric Sprott, through 2176423 Ontario Ltd., purchased 50 million units of Galantas Gold Corp. in a private placement at $0.08 per unit for approximately $4 million.
• The transaction raises Sprott’s ownership to ~13.1% on a non‑diluted basis (≈20% partially diluted), triggering an early‑warning filing.
• Each unit includes one common share and one warrant allowing purchase of an additional share at $0.12 for 36 months.

Key Details

• Units Acquired: 50,000,000 units @ $0.08 per unit = ≈ $4,000,000 total consideration.
• Unit Composition: 1 common share + 1 warrant (exercise price $0.12, exercisable for 36 months).
• Pre‑transaction Holding: Sprott owned 10,166,667 shares (~7.7% of outstanding shares).
• Post‑transaction Holding:
• Shares: 60,166,667 (≈13.1% non‑diluted).
• Warrants: 50,000,000 (potentially increasing diluted ownership to ~19.999%).
• Early Warning: Ownership increase above the 10 % threshold requires filing of an early‑warning report with SEDAR+.
• Purpose of Securities: Held for investment; long‑term view with possibility of future purchases or dispositions.
• Contact Information: Early warning report available on Galantas Gold’s SEDAR+ profile; inquiries via Mr. Sprott’s office (416) 945‑3294.

Notable Quotes

(No direct quotes were provided in the release.)