Galway Metals Inc. Launches Non-Brokered Private Placement and Announces Stock Options for Employees

Galway Metals Inc. has declared its intention to raise up to $4,500,000 through a non-brokered private placement. This initiative will include a mix of charity flow-through units priced at $0.54 each and flow-through units at $0.42 each, aiming for aggregate gross proceeds of $4,500,000. The proceeds are designated for eligible Canadian exploration expenses in compliance with the Income Tax Act (Canada).

Each charity flow-through unit comprises one flow-through common share and a warrant for purchasing one common share at $0.60 for two years post-offering. Similar terms apply to the flow-through units. The offering, expected to close around April 25, 2024, awaits regulatory approval and is subject to a four-month hold period. Laurentian Bank Securities Inc. serves as the exclusive finder, eligible for a 4% finder's fee of the flow-through units' proceeds.

Additionally, Galway Metals is awarding about 400,000 incentive stock options at C$0.44 per share to its employees, officers, and directors, expiring in 2029. This grant aligns with the company's stock option plan, pending approval from the TSX Venture Exchange.

Galway Metals emphasizes that its securities have not been registered under the U.S. Securities Act of 1933 and, hence, cannot be offered or sold in the United States absent registration or an exemption. The press release does not constitute an offer of securities in the United States.