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VANCOUVER, BC / ACCESS Newswire / February 20, 2025 / Galloper Gold Corp. (CSE:BOOM)(OTC PINK:GGDCF) (the "Company" or "Galloper") further to its news releases of January 14, 2025 and January 28, 2025, confirms it is continuing with its non-brokered private placement (the "Private Placement") of units ("Units") and expects to close the second tranche by March 18, 2025. The Company closed the first tranche of the Private Placement on January 27, 2025, issuing 4,000,000 Units and raising gross proceeds of $200,000.
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 $0.075 for 12 (twelve) months from the date of issuance.
The Company may pay finders' fees to eligible finders, in accordance with applicable securities laws and the policies of the Canadian Securities Exchange ("CSE"). The Private Placement is subject to approval of the CSE, and all securities issued under the Private Placement will be subject to statutory hold periods expiring four months and one day from the date of closing of the Private Placement.
The Company intends to use the net proceeds of this financing to advance its Glover Island asset, for general and administrative expenses which will include funds for marketing and investor relations, and cash for working capital.
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.