The Offering was carried out by
The Offering is subject to final regulatory approval, and all securities issued and issuable pursuant to the Offering have a hold period of four months and one day. The Company will use the gross proceeds from the sale of the FT Shares to incur eligible 'Canadian exploration expenses' that qualify as 'flow-through mining expenditures' as both terms are defined in the Income Tax Act (
As consideration for the services provided by the Agents in connection with the Offering: the Agents received (i) a cash commission of
The securities have not been, and will not be, registered under the Unites States Securities Act of 1933, as amended (the '
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Contact:
Tel: 1-800-771-0680
Email: info@galwaymetalsinc.com
This news release contains forward-looking information, which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes statements made herein with respect to, among other things, the use of proceeds of the Offering, the tax treatment of the securities offered under the Offering, the timing of the Qualifying Expenditures, the Company's objectives, goals or future plans, the final approval of the TSXV of the Offering. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, exploration results being less favourable than anticipated, capital and operating costs varying significantly from estimates, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, changes in tax laws, fluctuations in commodity prices, delays in the development of projects, risks associated with the defence of legal proceedings and other risks involved in the mineral exploration and development industry, as well as those risks set out in the Company's public disclosure documents filed on SEDAR. Although the Company believes that management's assumptions used to develop the forward-looking information in this news release are reasonable, including that, among other things, the Company will be able to identify and execute on opportunities to acquire mineral properties, exploration results will be consistent with management's expectations, financing will be available to the Company on favourable terms when required, commodity prices and foreign exchange rates will remain relatively stable, and the Company will be successful in the outcome of legal proceedings, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information contained herein, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.
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