Ross J. Beaty

June 10, 2016 09:00 ET

News Release

VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 10, 2016) - Ross J. Beaty, of 1550 - 625 Howe Street, Vancouver, British Columbia, V6C 2T6, today announced pursuant to National Instrument 62-103 The Early Warning System and Related Take-Over Bid and Insider Reporting Issues that on June 9, 2016 he acquired ownership of 12,825,397 common shares (the "Common Shares") in the capital of Galantas Gold Corporation ("Galantas") by way of a private placement from treasury for a purchase price of CDN$0.07875 per Common Share and an aggregate purchase price of CDN$1,010,000 (the "Acquisition").

Prior to the Acquisition, Mr. Beaty owned, directly or indirectly, or exercised control or direction over 16,000,000 Common Shares and 16,000,000 warrants of Galantas, each warrant entitling the holder to purchase one Common Share of Galantas (the "Warrants"). Each Warrant is exercisable into one Common Share until July 24, 2016 at an exercise price of CDN$0.16 per Common Share.

After the Acquisition, Mr. Beaty now owns, directly or indirectly, or exercises control or direction over, 28,825,397 Common Shares and 16,000,000 Warrants. The 28,825,397 Common Shares represent approximately 22.9% of the total number of issued and outstanding common shares of Galantas. If all of the Warrants were exercised, Mr. Beaty would own, directly or indirectly, or exercise control or direction over, approximately 31.6% of the issued and outstanding common shares of Galantas.

Mr. Beaty's acquisition was made for investment purposes. Mr. Beaty may, in the future, acquire ownership and control over additional securities of Galantas for investment purposes.

For more information, or to obtain a copy of the subject early warning report, please contact Ross J. Beaty.

Contact Information

  • Ross J. Beaty
    1550 - 625 Howe Street
    Vancouver, British Columbia
    V6C 2T6
    Telephone: (604) 684-1175
    Facsimile: (604) 684-0147