Galantas Gold Corporation (Galantas) has today appointed Brent Routledge (C.A) as Chief Financial Officer. Mr. Routledge (43) has 17 years experience as a Chartered Accountant and has held managerial / accounting positions with Canadian Tire and was Director of Finance at Proquest Company LLC. Mr.Routledge will be operating from the Omagh offices of Galantas in Northern Ireland. This is not an appointment to the Board of Directors of Galantas.
It is announced that Incentive Stock Options to acquire up to a total of 7.7m shares of Galantas at an exercise price of CDN$0.14, expiring on 24th December 2012 have been awarded to Directors, Officers and Senior Employees. Vesting arrangements are one third on award and one third on each of the two following anniversaries. These Stock Options are being granted pursuant to the Galantas Stock Option plan and in accordance with the policies of the TSX Venture Exchange.
Galantas has entered into a loan arrangement with G & F Phelps Ltd (a company controlled by a Director of Galantas) for the financing of additional mining equipment comprised of two Volvo 40D dump-trucks and a Volvo EC290BLC Excavator. The loan, of £412,660 including VAT (GST) is repayable over 4.25yrs at an interest rate of 4.04% flat and is secured upon all equipment owned by Galantas's wholly owned subsidiary Omagh Minerals Ltd.
Galantas Gold Corporation Issued and Outstanding Shares total 175,675,855.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this news release.
Enquiries
Galantas Gold Corporation
Jack Gunter P.Eng – Chairman
Roland Phelps C.Eng – President & CEO
Email: info@galantas.com
Website: www.galantas.com
Telephone: +44 (0) 2882 241100
Blomfield Corporate Finance Ltd
Nick Harriss
Telephone: +44 (0) 20 7512 0191
Lewis Charles Securities Limited.
Kealan Doyle
Telephone: +44 (0) 20 7456 9100
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