TORONTO, Nov. 23, 2018 (GLOBE NEWSWIRE) -- Galantas Gold Corporation (“Galantas” or the “Company”) (TSXV:GAL) (AIM:GAL), the gold-mine developer and explorer, has been advised that the Court Of Appeal has delivered its judgement in regard to an appeal against the Company’s planning consent. The Court has determined that the appeal has failed and thus the planning consent is confirmed.
An Applicant sought to have the Company’s planning consent for its Omagh gold mine quashed via a Judicial Review in Belfast’s High Court. The Company’s consent was confirmed as a result of that Judicial Review. The Applicant appealed against that decision in the Court Of Appeal and it is this judgement that has again confirmed the planning consent.
The Company will proceed with the proposed private placing as notified on 19 November 2018 and continues to be dependent on this funding for working capital and to bring the Omagh gold mine into commercial production. The placing remains subject to formal confirmations from placees and TSXV and regulatory approval. A further announcement will be made in due course detailing the results of the private placement.
Restoration of the Company's shares to trading on AIM will occur at 1pm London time today.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014.
Enquiries : Galantas Gold Corporation
L. Jack Gunter P.Eng – Chairman, Roland Phelps C.Eng – President & CEO
Grant Thornton UK LLP (Nominated Adviser)
Philip Secrett, Richard Tonthat, Harrison Clarke: Telephone: +44(0)20 7383 5100
Whitman Howard Ltd (Broker & Corporate Adviser)
Nick Lovering, Grant Barker: Telephone: +44(0)20 7659 1234