Capital Financing
Galleon Gold closes upsized $30M bought deal and concurrent $7M private placement
Amount raised
Approx. $30 million
Bought deal; plus $7 million non-brokered
Issue price
$1.59 FT Share; $1.12 HD Share
Non-brokered shares also at $1.12
Summary
Galleon Gold Corp. has closed its upsized bought deal private placement, including full exercise of the over-allotment option, for aggregate gross proceeds of approximately $30 million. The company issued 4,717,000 flow-through shares at $1.59 per share and 20,089,271 HD Shares at $1.12 per share. It also closed a concurrent non-brokered private placement of 6,250,000 common shares to Pan American Silver Corp. at $1.12 per share for aggregate gross proceeds of $7 million. The company states that all amounts are in Canadian dollars and that the offerings remain subject to final acceptance of the TSX Venture Exchange.
Offer terms
| Term | Detail |
|---|---|
| Instrument | Common shares, including flow-through shares (FT Shares) and HD Shares in the bought deal, and common shares in the non-brokered offering |
| Tranches | Bought deal: 4,717,000 FT Shares and 20,089,271 HD Shares, including 2,678,571 HD Shares from full exercise of the over-allotment option. Non-brokered: 6,250,000 common shares to Pan American Silver Corp. |
| Price | $1.59 per FT Share, $1.12 per HD Share and $1.12 per common share in the non-brokered offering |
| Shareholder approval | The company relied on the exemption from the minority shareholder approval requirement of MI 61-101 for related party participation |
| Underwriting | Bought deal led by ATB Cormark Capital Markets as lead underwriter and sole bookrunner, including Stifel Nicolaus Canada Inc., with a cash commission equal to 6.0% of gross proceeds of the bought deal offering. No commission was paid on the non-brokered offering |
Use of proceeds
- Gross proceeds from the FT Shares will be used to incur Canadian exploration expenses that will qualify as flow-through mining expenditures on the West Cache Gold Project in Timmins, Ontario
- Net proceeds from the HD Shares and the non-brokered offering will be used for advancement of the Project and for working capital and general corporate purposes
Timetable
| December 31, 2026 | Latest effective date for renouncing flow-through expenditures to the initial purchasers of the FT Shares |
|---|---|
| March 4, 2027 | Expiry of the four-month hold period on common shares issued to insiders under the bought deal offering |
| March 4, 2027 | Expiry of the hold period of four months and one day on common shares issued to Pan American Silver Corp. |
| December 31, 2027 | Latest date by which the flow-through expenditures will be incurred |
Source: Galleon Gold announcement dated 3 November 2026. This page summarises information from the company's public announcement and is provided for general information only. It is not financial product advice, a recommendation or an offer, and it does not take into account any person's objectives, financial situation or needs. Figures and terms are taken from the announcement and may be incomplete or may have changed since publication. Refer to the original announcement for full details. Kamoa Capital has not independently verified the information.
