Galloper Gold increases private placement to $2.5M

Executive Summary

• Galloper Gold Corp. has upsized its non-brokered private placement from $1.5 million to $2.5 million due to strong investor demand.
• The company raised up to $2.5 million by issuing up to 41,666,667 units at a price of $0.06 per unit.
• Proceeds will be used for the 2026 exploration program and general working capital, with shareholder approval obtained via written consent.

Key Details

• Transaction Size: Upsized to $2,500,000 (increased from $1,500,000).
• Instrument: Non-brokered private placement units.
• Quantity: Up to 41,666,667 units.
• Price: $0.06 per unit.
• Warrant Terms: Each unit includes one common share purchase warrant. Each warrant is exercisable to purchase one additional common share at an exercise price of $0.09.
• Warrant Expiry: Three years from the date of issuance.
• Shareholder Approval: Obtained majority shareholder approval (over 51%) by written consent resolutions to satisfy Canadian Securities Exchange policies regarding issuance exceeding 100% of outstanding securities on a fully diluted basis.
• Use of Proceeds: Commencement of the 2026 exploration program and general working capital purposes.

Notable Quotes

• "The unprecedented demand to participate in Galloper Gold's current raise, in particular due to the excitement surrounding the Glover Island asset and the potential upside it offers investors and the forecast for gold prices, has allowed us to conclude that this is the right decision for Galloper Gold and our investors." — Hratch Jabrayan, CEO