Galleon Gold Announces Closing of Oversubscribed $30M Financing with Lead Orders from Pan American Silver and Eric Sprott

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[{"type":"text","content":"Galleon Gold Announces Closing of Oversubscribed $30M Financing with Lead Orders from Pan American Silver and Eric SprottToronto, Ontario--(Newsfile Corp. - December 4, 2025) - Galleon Gold Corp. (TSXV: GGO) (FSE: 3H90) (\"Galleon Gold\" or the \"Company\") is pleased to announce that it has closed its previously announced equity financings, consisting of (i) a non-brokered private placement with Pan American Silver Corp. (the \"Private Placement\") and (ii) a \"best efforts\" private placement (the \"Brokered Offering\", and together with the Private Placement, the \"Offerings\").Under the Offerings, the Company issued an aggregate of 50,000,000 units of the Company (the \"Units\") at a price of $0.60 per Unit for total gross proceeds of $30,000,000. Of this amount, 31,250,000 Units were issued pursuant to the Brokered Offering including the full exercise of the over-allotment option and 18,750,000 Units were issued pursuant to the Private Placement.Each Unit consists of one common share of the Company (a \"Common Share\") and one-half of one Common Share purchase warrant (each whole warrant, a \"Warrant\"). Each Warrant entitles the holder to acquire one additional Common Share (a \"Warrant Share\") at an exercise price of $0.75 per Common Share until December 4, 2027.The net proceeds of the Offerings, together with existing cash and cash equivalents, will be applied to advance exploration activities on the West Cache Gold Project. The majority of the net proceeds will be allocated to surface infrastructure and development work required to support the Bulk Sample. The remaining balance of the net proceeds will be used for general corporate purposes and working capital. Strategic Participation from Lead InvestorsThe Offerings received strong support from cornerstone mining investors, including:Pan American Silver Corp. (\"Pan American Silver\") subscribed for $11,250,000 in the Private Placement. Pan American Silver has agreed not to convert its convertible debenture or to exercise its warrants to the extent that they will own (together with any person acting jointly or in concert with the them), directly or indirectly, more than 19.9% of the issued and outstanding Common Shares immediately following such exercise until the disinterested shareholders of the Company have approved Pan American Silver as a control person of the Co...

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