VANCOUVER, BRITISH COLUMBIA–(Marketwired – Aug. 3, 2016) – Ross J. Beaty, of 1550 – 625 Howe Street, Vancouver, British Columbia, V6C 2T6, today announced pursuant to National Instrument 62-103 The Early Warning System and Related Take-Over Bid and Insider Reporting Issues that on July 24, 2016, 16,000,000 warrants (“Warrants“) of Galantas Gold Corporation (“Galantas“) owned by Mr. Beaty expired (the “Disposition“).
After the Disposition, Mr. Beaty now owns, directly or indirectly, or exercises control or direction over, 28,825,397 common shares (the “Common Shares“). The 28,825,397 Common Shares represent approximately 20.9% of the total number of issued and outstanding Common Shares of Galantas.
Prior to the Disposition, Mr. Beaty owned, directly or indirectly, or exercised control or direction over 28,825,397 Common Shares in the capital of Galantas and 16,000,000 Warrants of Galantas. Each Warrant entitled the holder to purchase one Common Share in the capital of Galantas at an exercise price of CDN$0.16 per Common Share.
Mr. Beaty may, in the future, acquire ownership and control over additional securities of Galantas for investment purposes.
For more information, or to obtain a copy of the subject early warning report, please contact:
Ross J. Beaty
1550 – 625 Howe Street
Vancouver, British Columbia
Telephone: (604) 684-1175
Facsimile: (604) 684-0147
(604) 684-0147 (FAX)