Mr. Kenneth Berry reports
GALACTIC GOLD ANNOUNCES UPSIZE OF NON-BROKERED PRIVATE PLACEMENT TO GROSS PROCEEDS OF $1.6 MILLION
Galactic Gold Corp., as a result of strong investor demand, has increased the size of its previously announced non-brokered private placement from gross proceeds of $1-million to gross proceeds of $1.6-million at a price of 25 cents per common share. Upon closing and if fully subscribed, the company will issue 6.4 million common shares.
The net proceeds from the private placement will be used for exploration activities related to the Hardrock West property, working capital and general corporate purposes.
The securities to be issued under the private placement will be offered by way of private placement in each of the provinces of Canada, other than Quebec, and such other jurisdictions as may be determined by the company, in each case, pursuant to applicable exemptions from the prospectus requirements under applicable securities laws.
The private placement is anticipated to close on or before April 30, 2026, or as decided by the company and is subject to certain conditions, including, but not limited to, the receipt of all necessary regulatory approvals. The shares to be issued under the private placement will have a hold period of four months and one day from closing.
In connection with the private placement, arm's-length finders may receive a cash fee in respect to their subscribers equal to 6.0 per cent of the gross proceeds.
About Galactic Gold Corp.
Galactic Gold is a resource development company focused on unlocking the full potential of its 100-per-cent-owned Hardrock West property, located in the top-tier mining jurisdiction of Ontario, over 57 kilometres of combined strike length along two major gold-bearing structures and 10 kilometres away from Equinox Gold's Greenstone mine. Galactic Gold is positioned between the Equinox Gold Greenstone mine and Equinox's Brookbank deposit along what Laurentian University in its metal earth research has identified superstructures across the Galactic gold property, underscoring the project's strong value-creation potential.
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