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Galantas Gold Announces the Exercise of Warrants

Galantas Gold Secures Cash via Sprott Warrant Exercise as Andacollo Acquisition Nears Closing

By The Northwire Desk — AI Analysis Apr 16, 2026 · 07:00 GAL · 0.23 Galantas Gold Corporation

Executive Summary

Event: Eric Sprott exercised 39,000,000 common share purchase warrants at C$0.12 per share on April 16, 2026.
Additional Exercise: An additional 1,500,000 warrant exercise occurred on April 13, 2026, also at C$0.12 per share.
Total Stake: Following these exercises, Mr. Sprott holds approximately 99,166,667 ordinary shares, representing a 19.9% stake in the Company.
Share Capital: The company is applying for admission of 40,500,000 new ordinary shares to trading on AIM, expected effective around April 21, 2026.
Post-Admission Share Count: Total issued share capital will consist of 499,363,772 ordinary shares.
Share Ranking: New ordinary shares rank pari passu with existing ordinary shares.

Material Impact

Cash Injection: The warrant exercise generates approximately $4.68 million CAD in immediate cash proceeds (39M + 1.5M shares * $0.12), providing liquidity for the company's operations and acquisition closing costs.
Insider Confidence: Eric Sprott exercising warrants at a price ($0.12) significantly below the current market price ($0.23) signals strong confidence in the company's valuation and future prospects, particularly regarding the Andacollo acquisition.
Dilution Impact: While the share count increases by ~8% (40.5M new shares out of 499M total), this was anticipated given the December 2025 financing terms where warrants were issued for 36 months. The market has already priced in the potential dilution from these specific warrants.
Acquisition Context: This cash infusion supports the closing of the Andacollo Oro acquisition (expected Q2 2026) and funds the Indiana Project PEA (due May 2026), reducing immediate refinancing risk compared to the critical $19k cash position seen in Q3 2025.
Market Reaction: The stock price has been consolidated at $0.23 since January 2026, suggesting this news is incremental rather than a catalyst for a new trend unless accompanied by positive PEA results or acquisition closing confirmation.

GAL · Price

Company Overview

Company Name: Galantas Gold Corporation.
Flagship Project (Chile): Andacollo Oro Gold Project. Past-producing open-pit heap leach mine with historical resources of 7.08Moz Au (Measured/Indicated + Inferred). Infrastructure includes processing plant and permits.
Secondary Project (Chile): Indiana Gold-Copper Project. Recently acquired via RDL Mining Corp. Updated NI 43-101 resource: 4.93Mt @ 2.24g/t Au, 1.31% Cu. Drilling program commenced March 2026.
Other Assets: Omagh Gold Project (Northern Ireland) - JV with Ocean Partners; Gairloch VMS project (Scotland).
Development Status: Andacollo acquisition pending closing; Indiana drilling ongoing for PEA completion.

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