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TORONTO, Aug. 30, 2022 /CNW/ - Galantas Gold Corporation (TSXV: GAL) (AIM: GAL) (OTCQX: GALKF) ("Galantas" or the "Company") is pleased to announce that it has closed its previously announced private placement, pursuant to which the Company sold an aggregate of (i) 14,826,674 units of the Company ("Units") at a price of C$0.45 per Unit (the "Offering Price") on a "best efforts" brokered private placement basis (the "Brokered Offering") for gross proceeds of C$6,672,003.30 and (ii) 506,667 Units at the Offering Price on a non-brokered private placement basis (the "Non-Brokered Offering" and, together with the Brokered Offering, the "Offering") for gross proceeds of C$228,000.15, for aggregate gross proceeds to the Company of approximately C$6.9 million, including full exercise of the agents' option. Each Unit was comprised of one common share in the capital of the Company (each, a "Common Share") and one-half of one common share purchase warrant of the Company (each whole common share purchase warrant, a "Warrant"). Each Warrant will entitle the holder thereof to purchase one Common Share (a "Warrant Share") at a price of C$0.55 per Warrant Share until February 28, 2025.