SAN PEDRO DE LA PAZ, BIOBÍO REGION, Chile, July 14, 2026 /CNW/ — Luis Enrique Catril Espinoza (“Mr. Catril“) announces that on June 23, 2026 he acquired ownership and control of 91,313,890 common shares (the “Subject Shares“) in the capital of Galantas Gold Corporation (the “Company“), representing approximately 11.1% of the issued and outstanding common shares of the Company immediately following the transaction described below.
The Subject Shares were issued to Mr. Catril from treasury as part of the consideration for the sale by Mr. Catril of his 60% shareholding in Compañía Minera e Inmobiliaria Dragones SpA (“Dragones“), the owner of the Andacollo Oro Project located in the Coquimbo Region of Chile, to Compañía Minera OXI SpA (“OXI“) pursuant to a share purchase agreement dated January 6, 2026 between Mr. Catril and OXI (the “SPA“), as supplemented by a supplementary agreement of even date between Mr. Catril and OXI (the “Supplementary Agreement“, and together with the SPA, the “Share Purchase Agreement“). Under the Share Purchase Agreement, part of the consideration payable to Mr. Catril for that sale consisted of common shares of the Company, to be issued from treasury, and such issuance was conditional upon the satisfaction, among other things, the completion by the Company of its acquisition of OXI, or its parent company, Sol de Oro Mining Ltd. (“Sol“) and the approval of the TSX Venture Exchange. On June 23, 2026, the Company completed its acquisition of all of the issued and outstanding shares of Sol (the “Sol Transaction“), and Mr. Catril was issued the Subject Shares on such date.
Immediately before the closing of the Sol Transaction, Mr. Catril did not own or control, directly or indirectly, any common shares of the Company or any securities convertible into or exercisable for common shares of the Company. Immediately following the closing of the Sol Transaction, Mr. Catril owns and controls 91,313,890 common shares of the Company, representing approximately 11.0% of the issued and outstanding common shares of the Company as of the closing date of the Sol Transaction.
The Subject Shares were issued to Mr. Catril from treasury, and the transaction did not take place through the facilities of any stock exchange or other published market. No cash consideration was paid by Mr. Catril for the Subject Shares, which were issued as part of the consideration for the sale by Mr. Catril of his 60% shareholding in Dragones, at a deemed price of CAD$0.195 per common share, for an aggregate deemed value of approximately CAD$17,806,208.55. Mr. Catril acquired the Subject Shares for investment purposes. However, depending on market conditions, his ongoing evaluation of the business, financial condition and prospects of the Company, and other relevant factors, Mr. Catril may from time to time acquire additional securities of the Company, dispose of some or all of the securities of the Company that he then holds, or continue to hold his current position, in each case subject to applicable securities laws and any applicable hold periods.
Mr. Catril is filing this news release and a related early warning report in accordance with the requirements of National Instrument 62-104 Take-Over Bids and Issuer Bids and National Instrument 62-103 The Early Warning System and Related Take-Over Bid and Insider Reporting Issues. A copy of the related early warning report will be filed under the Company’s profile on SEDAR+ at www.sedarplus.ca and may be obtained from the contact below.
SOURCE Luis Enrique Catril Espinoza