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TORONTO, May 10, 2026 (GLOBE NEWSWIRE) -- Galantas Gold Corporation ((TSX-V &amp, AIM: GAL, OTCQB:GALKF) ("Galantas" or the "Company") is pleased to announce that it intends to raise up to $85 million (the "Offering") pursuant to a brokered private placement of up to 154,546,000 units of Galantas (each, a "Unit"), on a "best efforts" agency basis, at a price of $0.55 per Unit (the "Issue Price"). Canaccord Genuity Corp. will act as sole bookrunner and lead agent (the "Agent"), in connection with the Offering.

Each Unit will be comprised of one common share of the Company (a "Galantas Share") and one-half of one Galantas Share purchase warrant (a "Warrant"). Each whole Warrant will entitle the holder thereof to purchase one Galantas Share for $0.80 for a period of 24 months from the closing date of the Financing. The Galantas Shares and Warrants issuable in connection with the Offering will be subject to a statutory hold period in Canada which extends to four months and one day after the closing of the Offering (the "Hold Period"). Starting effective the day after the Hold Period, in the event that the closing price of the common shares of the Company on the TSX Venture Exchange (the "TSXV") for ten (10) consecutive trading days exceeds $1.00, the Company may, within 5 business days of the occurrence of such event, deliver a notice (including by way of a news release) to the holders of Warrants accelerating the expiry date of the Warrants to the date that is 30 days following the date of such notice.

The Company has granted the Agent an option, which will permit the Agent to sell up to 27,273,000 additional Units at the Issue Price for additional gross proceeds of up to $15 million.

The Units will be offer for sale in each of the provinces and territories of Canada in reliance on exemptions from prospectus requirements under applicable securities laws. The Units may also be offered for sale in the United States pursuant to available exemptions from the registration requirements of the United States Securities Act of 1933, as amended, and in those other jurisdictions ...