Galantas Gold Corporation announces non-brokered private placement of unsecured convertible debentures of the Company for a principal amount of $3 million on November 9, 2023. Each Debenture will be convertible at the option of the holder thereof into common shares in the capital of the Company at a conversion price of $0.255 per Conversion Share, being the equivalent of a conversion price of CAD 0.35 per Conversion Share, at any time prior to 5:00 p.m. (Toronto time) on the last business day immediately preceding the date that is 36 months following the Closing Date (the "Maturity Date"). Each Debenture shall bear interest at a minimum interest rate of 10% per annum, payable annually on December 31st of each year, commencing on December 31, 2024.

In connection with the Offering, certain finders may receive from the Company: (i) a cash finder's fee payment equal to 5.0% of the gross proceeds raised under the Offering from subscribers introduced to the Company by such finder; and (ii) such number of non-transferable finder's warrants ("Finder Warrants") as is equal to 5.0% of the maximum number of Conversion Shares issuable under the Debentures sold under the Offering to subscribers introduced to the Company by such finder. Each Finder Warrant will be exercisable to acquire one common share in the capital of the Company at the Conversion Price at any time on or before that date which is 36 months following the Closing Date. The securities issued pursuant to the Offering will be subject to a four-month hold period under applicable Canadian securities laws.

The offering is expected to close on November 30, 2023.