4th Feb 2022 14:30
Galantas Gold Corp - Toronto-based gold miner and producer - Closes loan agreement for USD1.1 million with Ocean Partners Ltd to mature on July 31, 2022, with annual interest of 10% compounding monthly and payable upon repayment of loan. Will pay Ocean USD60,000 total fees and grant 250,000 warrants with exercise period of 12 months at price of CAD0.50. Extension of loan for six months possible with further USD40,000 fee.
Proceeds will be used for developing its Omagh gold project in Northern Ireland and as working capital.
Current stock price: 33.28 pence, up 0.9% on Friday
12-month change: up 71%
By Elizabeth Winter; [email protected]
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