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Galantas Gold Provides Update on Acquisition of RDL Mining Corp. and Brokered Financing
Not for distribution to U.S. newswire services or dissemination in the United States TORONTO,...
About this update from Galantas Gold Corporation
[{"type":"text","content":"Galantas Gold Provides Update on Acquisition of RDL Mining Corp. and Brokered Financing\nNot for distribution to U.S. newswire services or dissemination in the United States TORONTO, Dec. 19, 2025 (GLOBE NEWSWIRE) -- Galantas Gold Corporation (TSX-V & AIM: GAL; OTCQB: GALKF) (“Galantas” or the “Company”) wishes to provide an update with respect to its previously announced acquisition (the “Transaction”) of all of the issued and outstanding shares of RDL Mining Corp. (“RDL”) and its previously announced private placement (the “Offering”) of units of the Company (each, a “Unit”), for $0.08 per Unit (the “Offering Price”), led by Canaccord Genuity Corp. and Haywood Securities Inc. (together, the “Agents”). The Company is working diligently to satisfy remaining closing conditions, including obtaining approval of the Transaction from the TSX Venture Exchange (the “TSXV”), and both the Offering and the Transaction are expected to be completed during 2025. Trading in the common shares of Galantas (“Common Shares”) is currently halted in accordance with TSXV Policy 5.3. Clarification of the RDL Option Once the Transaction is completed, Galantas (indirectly through RDL) will hold an option (the “Option”) to acquire a 100% interest in the Indiana gold/copper project located in Chile (the “Indiana Project”). In order to exercise the Option, RDL must make payments totaling US$15 million to Minería Indiana Limitada (“Indiana Limitada”), the current owner of the Indiana Project, over a period of five years, with the first payment of US$500,000 paid in the fourth quarter of 2025. The remaining payments consist of US$1 million in years one and two, US$2 million in years three and four and a final payment of US$8.5 million in year five (together, the “Option Payments”). Until RDL has exercised the Option, RDL will “lease” the Indiana Project from Indiana Limitada in exchange for payments as follows: If the Indiana Project is in production, the monthly payment is equivalent to 10% of the net sales of minerals from the mining concessions.If the Indiana Project is not in production, the monthly payment based on net sales will not be ...