Galantas Gold Provides Update on Acquisition of RDL Mining Corp. and Brokered Financing

Core Viewpoint - Galantas Gold Corporation is progressing with the acquisition of RDL Mining Corp and a private placement offering, with both expected to be completed in 2025 [2][3]. Acquisition and Transaction Details - The acquisition involves all issued and outstanding shares of RDL Mining Corp, with the company working to satisfy closing conditions, including TSX Venture Exchange approval [2][3]. - The private placement offering is priced at $0.08 per unit, led by Canaccord Genuity Corp and Haywood Securities Inc [2]. Indiana Project Option - Upon completion of the transaction, Galantas will hold an option to acquire a 100% interest in the Indiana gold/copper project in Chile, requiring total payments of US$15 million over five years [4]. - The first payment of US$500,000 is due in Q4 2025, followed by payments of US$1 million in the first two years, US$2 million in years three and four, and a final payment of US$8.5 million in year five [4]. Lease Agreement - Until the option is exercised, RDL will lease the Indiana Project from the current owner, Indiana Limitada, with payments not credited as option payments [5]. Historical Mineral Resources - The Indiana Project has a historical inferred mineral resource estimate of approximately 714,600 ounces of gold equivalent, based on 4,546,300 tonnes averaging 4.89 parts per million AuEq [7]. - The estimate is supported by a technical report prepared in accordance with NI 43-101 standards [7]. Offering Update - The company plans to utilize the "part and parcel pricing exception" for gross proceeds of $10 million specifically allocated for the transaction [13]. - Adjustments to the offering price may occur after the common shares resume trading, requiring TSXV approval [13]. Additional Exploration - Since the 2013 Technical Report, approximately 1,500 meters of exploration drifts have been excavated, and 960 meters of core were drilled in 2020 [12]. Company Overview - Galantas Gold Corporation is a Canadian public company trading on the TSX Venture Exchange and the London Stock Exchange AIM market, focusing on expanding gold production and resources [19].