StockMarketWire.com - Galantas Gold said Friday subscription agreements totalling £4m had been received for the maximum amount of 80m shares. As set out in the terms of the private placement, Roland Phelps, President & CEO, Galantas Gold Corporation, exchanged shares for debt owed to him personally, in the amount of £500,000 for 10m shares, the company said.

Melquart, who currently held 19.18% of the company's shares, had subscribed for £1.1m for 22m shares, which would take its total stake in the company to 20.76%.

Miton Asset Management subscribed for 50m shares at an aggregate subscription price of £2.5m, which equated an approximate 16.68% stake in the company.

At 10:13am: [LON:GAL] Galantas Gold Corporation share price was 0p at 6.5p



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