Transactions

Peterson McVicar Acts for Galway Metals in $8 Million Bought Deal Private Placement Financing

On May 5, 2022 Galway Metals Inc. (“Galway Metals” or the “Company”) announced that it had entered into an agreement with Paradigm Capital Inc. on behalf of a syndicate of underwriters (collectively, the “Underwriters”), in connection with a bought deal private placement financing (the “Offering”) for total proceeds of $8 million, consisting of 6,666,700 common shares of the Company that qualify as “flow-through shares” (within the meaning of subsection 66(15) of the Income Tax Act (Canada)) (the “FT Shares”) at a price of $0.60 per FT Share and 9,411,800 common shares of the Company (“Hard Dollar Shares”) at a price of $0.425 per Hard Dollar Share.

Galway Metals is well capitalized with two projects in Canada: Clarence Stream, an emerging gold district in New Brunswick, and Estrades, the former producing, high-grade, gold-rich VMS polymetallic mine in Quebec.

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