Galantas Gold Announces Acquisition of RDL Mining Corp. with Option to Develop Indiana Gold-Copper Project in Chile and Brokered Private Placement to Raise up to $7 million

Core Viewpoint - Galantas Gold Corporation has entered into a share purchase agreement to acquire RDL Mining Corp, aiming to advance the Indiana gold-copper project in Chile, which RDL holds an option to acquire 100% interest from Minería Activa SpA [1][2] Company Overview - Galantas Gold Corporation trades on the TSX Venture Exchange and the London Stock Exchange AIM market under the symbol GAL, and on the OTCQB Exchange as GALKF [36] - The company's strategy focuses on expanding gold production and resources at the Omagh Project in Northern Ireland and exploring the Gairloch Project in Scotland [36] Transaction Details - The acquisition will involve Galantas issuing approximately 132 million shares to RDL shareholders, representing 49.99% of the outstanding shares post-transaction [8][10] - RDL shareholders will also receive a 0.66% net smelter returns royalty, totaling approximately 2% for the Indiana Project [8] - The transaction is subject to approval from the TSX Venture Exchange and other customary closing conditions [9][28] Indiana Project Insights - The Indiana Project is located in a prolific mining district in Chile, with a historical inferred mineral resource estimate of 607,000 ounces of gold equivalent, consisting of 3.09 million tonnes at an average grade of 2.8 g/t gold and 1.6% copper [4][6] - The project has significant exploration potential, with over 20 veins remaining untested and a commitment from RDL to spend a minimum of US$1 million annually on exploration during the option period [11][12] Management and Board Changes - Following the transaction, Lawrence Roulston will join the Galantas Board as a non-executive director, and Robert Sedgemore will become Senior Vice President, Operations [17][18] - Both Roulston and Sedgemore bring extensive mining experience, particularly in major Chilean mines [18][19] Concurrent Financing - Galantas plans to raise up to $7 million through a brokered private placement to fund exploration and option payments related to the Indiana Project [20][24] - Each unit in the financing will consist of one Galantas share and one purchase warrant, with the financing expected to close around December 4, 2025 [21][25] Shareholder Support - The Galantas Board has unanimously approved the transaction, and shareholders holding approximately 57% of the outstanding shares have expressed support for the transaction [29][30]