Galloper Announces Closing of Non-Brokered Private Placement

Rhea-AI Summary

Galloper Gold has successfully closed its non-brokered private placement, raising gross proceeds of $142,763 through the issuance of 3,482,024 units at $0.041 per unit.

Each unit comprises one common share and one-half of a Common Share purchase warrant. The full warrants can be exercised to purchase one Common Share at $0.05 within 12 months from issuance.

The company paid Ventum Financial finder's fees of $2,601.04 in cash and 63,440 finder's warrants. These non-transferable warrants are exercisable at $0.05 per Common Share for 12 months.

The proceeds will support general working capital purposes. All securities issued are subject to a four-month statutory hold period. The offering excludes U.S. distribution without proper registration or exemption.

Positive

• Strategic investors participated in the private placement
• Raised $142,763 in gross proceeds for working capital

Negative

• Small financing amount indicates limited investor interest
• Significant share dilution through issuance of 3,482,024 new units
• Low unit price of $0.041 suggests weak market valuation
• Additional dilution potential from warrants at $0.05 exercise price

NOT FOR DISTRIBUTION OR DISSEMINATION TO THE UNITED STATES

VANCOUVER, BC / ACCESS Newswire / April 30, 2025 / Galloper Gold Corp. (CSE:BOOM)(OTC PINK:GGDCF) (the "Company" or "Galloper") announces that, further to its news release of April 15, 2025, it has closed its non-brokered private placement issuing 3,482,024 units of the Company ("Units") at a price of $0.041 per Unit with strategic investors raising gross proceeds $142,763 (the "Private Placement'). Each Unit consists of one common share (a "Common Share") and one-half of a Common Share purchase warrant (a "Warrant"), with each full Warrant exercisable to purchase one Common Share at a price of $0.05 for 12 months from the date of issuance.

The Company paid finder's fees of $2,601.04 cash and 63,440 finder's warrants (the "Finder's Warrants") to Ventum Financial Corp. Each Finder's Warrant is non-transferable and exercisable to purchase one Common Share at a price of $0.05 for 12 months from the date of issuance.

The Company intends to use the net proceeds from the Private Placement for general working capital purposes.

All securities issued under the Private Placement are subject to statutory hold periods expiring four months from the date of closing of the Private Placement.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful.

About Galloper Gold Corp.

Galloper is focused on mineral exploration in the Central Newfoundland Gold Belt with its Glover Island and Mint Pond properties, each prospective for gold and base metals. The Glover Island Property, where the historic Lucky Smoke gold occurrence was recently expanded through drilling, consists of 532 mining claims totaling 13,300 hectares while Mint Pond consists of 499 claims totaling 12,475 hectares.

For more information please visit www.GalloperGold.com and the Company's profile on SEDAR+ at www.sedarplus.ca.

On behalf of the Board of Directors,

Mr. Hratch Jabrayan
CEO and Director
Galloper Gold Corp.

Company Contact:

info@gallopergold.com
Tel: 778-655-9266

Forward-Looking Statements

This news release contains forward-looking statements within the meaning of applicable securities laws. The use of any of the words "anticipate", "plan", "continue", "expect", "estimate", "objective", "may", "will", "project", "should", "predict", "potential" and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company cannot give any assurance that they will prove correct. Since forward-looking statements address future events and conditions, they involve inherent assumptions, risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of assumptions, factors and risks. These assumptions and risks include, but are not limited to, assumptions and risks associated with mineral exploration generally, risks related to capital markets, risks related to the state of financial markets or future metals prices and the other risks described in the Company's publicly filed disclosure.

Management has provided the above summary of risks and assumptions related to forward-looking statements in this news release in order to provide readers with a more comprehensive perspective on the Company's future operations. The Company's actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits the Company will derive from them. These forward-looking statements are made as of the date of this news release, and, other than as required by applicable securities laws, the Company disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise.

Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Galloper Gold Corp.

View the original press release on ACCESS Newswire

FAQ

How much did Galloper Gold (GGDCF) raise in their April 2025 private placement?

Galloper Gold raised gross proceeds of $142,763 through a non-brokered private placement, issuing 3,482,024 units at $0.041 per unit.

What is the warrant exercise price for GGDCF's April 2025 private placement?

The warrant exercise price is $0.05 per common share, exercisable for 12 months from the date of issuance.

What are the terms of Galloper Gold's (GGDCF) April 2025 private placement units?

Each unit consists of one common share and one-half of a common share purchase warrant, priced at $0.041 per unit.

How long is the hold period for GGDCF's April 2025 private placement securities?

All securities issued under the private placement have a statutory hold period of four months from the closing date.

What finder's fees did Galloper Gold pay for their April 2025 private placement?

Galloper paid Ventum Financial Corp. finder's fees of $2,601.04 cash and 63,440 finder's warrants, exercisable at $0.05 per share for 12 months.

How will Galloper Gold (GGDCF) use the proceeds from their April 2025 private placement?

The company intends to use the net proceeds from the private placement for general working capital purposes.