Galway Metals Inc. Completes Brokered LIFE Offering and Private Placement
Michael Orlan advised Galway Metals Inc. on the completion of a brokered “best efforts” private placement for aggregate gross proceeds of approximately C$11.5 million, together with a separate non-brokered private placement for additional gross proceeds of approximately C$462,000. The brokered offering included the full exercise of the agent’s option and was completed pursuant to the Listed Issuer Financing Exemption (LIFE) under National Instrument 45-106.
The proceeds will be used to fund exploration and advancement of Galway’s Clarence Stream gold project in New Brunswick, as well as for working capital and general corporate purposes. Red Cloud Securities Inc. acted as sole agent and bookrunner in connection with the brokered offering. The transactions remain subject to final approval of the TSX Venture Exchange.
Click here to view Galway Metals Inc.’s news release announcing the transaction.