Galway Metals Inc announced non-brokered private placement of a combination of charity flow-through units at a price of CAD 0.54 per Charity flow-through unit and flow-through units of the Company at a price of CAD 0.42 per flow-through Unit for aggregate gross proceeds of up to CAD 4,500,000 on April 5, 2024. Each Charity FT Unit will consist of one flow-through common share of the Company and one whole non-flow through common share purchase warrant. Each FT Unit will consist of one flow-through common share of the Company and one whole non-flow-through common share purchase warrant.

Each warrant will entitle the holder to acquire one common share of the Company for an exercise price of CAD 0.60 per share for a period of 2 years following completion of the Offering. The Offering is subject to regulatory approval and all securities issued pursuant to the Offering will have a hold period of four months and one day. Closing of the Offering is anticipated to occur on or about April 25, 2024.

In connection with the Offering, Laurentian will be entitled to a cash finder?s fee of up to 4.0% of the proceeds of the FT Units, payable on closing.