Galway Metals Concludes $14 Million Private Placement

Galway Metals Inc., listed on TSX-V and OTCQB, announced the closing of its brokered private placement, securing gross proceeds of approximately $14 million. This offering led to the issuance of 19,437,000 flow-through units priced at $0.72 per unit. Each unit comprises one common share and a purchase warrant, allowing acquisition of an additional share at $0.80 within 36 months.

Funding will support exploration expenses at Galway's Clarence Stream gold project in New Brunswick. Strategic investor Michael Gentile's participation results in a 10.94% stake in Galway Metals, expanding to 19.72% if warrants are exercised. Gentile has agreed to a 12-month lock-up period, restricting the sale of acquired securities.

Beacon Securities Limited managed the offering, earning a commission of $606,434.40. The transaction awaits TSX Venture Exchange's final approval, and issued securities are under a four-month hold period.