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Galway Metals Inc. Announces Non-Brokered Private Placement
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES TO...
About this update from Galway Metals, Inc.
[{"type":"text","content":"Galway Metals Inc. Announces Non-Brokered Private PlacementNOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATESTORONTO, ON / ACCESSWIRE / April 11, 2018 / Galway Metals Inc. (TSX-V: GWM) (the ''Company'') is pleased to announce a proposed non-brokered private placement financing (the ''Offering'') for gross proceeds of up to $3,000,000 comprised of flow-through common shares (''FT Shares'') and hard-dollar common shares (''HD Shares''), subject to regulatory approval and closing.Each FT Share will be sold for $0.37. Each HD Share will be sold for $0.30. The securities issued pursuant to the Offering will be subject to a hold period of four months and one day after closing. In connection with the Offering, the Company may pay commissions to eligible finders in accordance with the policies of the TSX Venture Exchange (the ''Exchange'').Proceeds of the Offering will be used to bring in a second drill rig to the Clarence Stream gold property located in south-western New Brunswick, for other exploration at Clarence Stream and at the Estrades polymetallic property located in the northern Abitibi of western Quebec, and for working capital purposes. The gross proceeds received by the Company from the sale of the FT Shares will be used to incur Canadian Exploration Expenses (''CEE'') that are ''flow-through'' mining expenditures (as such terms are defined in the Income Tax Act (Canada)). Such gross proceeds will be renounced to the subscribers with an effective date not later than December 31, 2021, in the aggregate amount of not less than the total amount of the gross proceeds raised from the issue of FT Shares.For further information, please contact:Galway Metals Inc.Robert Hinchcliffe1-800-771-0680www.galwaymetalsinc.comCAUTIONARY STATEMENT: Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.This news release contains forward-looking information, which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospec...