Galantas expands placing as it progresses RDL Mining acquisition
By Josh White
Date: Monday 24 Nov 2025
(Sharecast News) - Galantas Gold upsized its previously-announced private placing to CAD 13.5m (£7.31m) on Monday, following strong investor demand, as it also provided further details on its planned acquisition of RDL Mining to give it exposure to the Indiana gold-copper project in Chile.
The AIM-traded firm said the enlarged financing would comprise 168.75 million units priced at eight Canadian cents, each including one common share and a warrant exercisable at 12 Canadian cents for 36 months.
It said the agents, Canaccord Genuity and Haywood Securities, would also have an over-allotment option allowing them to raise an additional CAD 2.03m through the sale of up to 25.31 million units.
Galantas said it would pay a 7% commission, reduced to 3% for investors on an expanded president's list, and issue compensation warrants on the same basis.
The company said the net proceeds would be used to fund exploration and option payments relating to the Indiana Project as well as for general working capital.
Completion was expected on or around 10 December, subject to TSX Venture Exchange approval.
Any units sold would be subject to a standard four-month Canadian hold period.
Galantas also detailed the terms of its acquisition of RDL Mining, agreed on 13 November.
The three RDL shareholders - Lawrence Roulston, Robert Sedgemore and Dorian Nicol - would receive 132 million Galantas shares at a deemed price of eight Canadian cents, representing 49.99% of the company before the impact of the offering.
If the full financing was completed, each would own around 10.2% of the enlarged share capital.
The consideration shares would be placed in escrow in accordance with TSXV policies, and the sellers would also receive a combined 2% net smelter return royalty on the Indiana Project.
RDL, incorporated in July, had secured an option to acquire 100% of the Indiana gold-copper project in Chile from Minería Activa, requiring $15m in staged payments over five years.
Initial payments were funded through a copper stream agreement with 1555070 BC Ltd and an advance from Ocean Partners.
Under the copper stream, RDL would deliver 6% of payable copper until two million pounds had been delivered, falling to 3% thereafter, with 155 paying 20% of spot prices.
On completion of the acquisition, the Galantas board would expand to six members, with Roulston joining as a director and Sedgemore appointed senior vice-president, operations.
The company noted both executives would bring extensive mining and capital markets experience, particularly in South America.
Galantas said the transaction continued to progress toward closing in the fourth quarter, subject to regulatory and other customary approvals.
Trading in the company's shares remained halted under TSXV Policy 5.3.
At 1000 GMT, shares in Galantas Gold Corporation were up 1.05% at 4.8p.
Reporting by Josh White for Sharecast.com.
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