Galway Metals Completes Private Placement Funding

TORONTO, ON / ACCESSWIRE / April 25, 2024 – Galway Metals Inc. announced the closure of a significant non-brokered private placement. The private placement was composed of 2,629,600 charity flow-through units at $0.54 each and 7,142,858 traditional flow-through units at $0.42 each, totaling a gross proceed of approximately $4.42 million. An additional closure of $100,000 is expected shortly in traditional units.

The flow-through units included a share and a warrant, which allows the holder to purchase a non-flow-through share at $0.60 within two years. These units aim to encourage mineral exploration by allowing expenses to be flowed to investors. The funds raised will be used for Canadian exploration expenses that qualify as flow-through mining expenditures.

Laurentian Bank Securities Inc. received a finder’s fee for their involvement, and Canadian securities laws dictate all issued securities are on a holding period until August 26, 2024. This strategic financing move is pending final approval from the TSX Venture Exchange.