Galloper Gold Announces Non-Brokered Private Placement

Vancouver-based Galloper Gold Corp. (CSE:BOOM) has announced a non-brokered private placement, aiming to raise up to $750,000. The funds will come from the sale of units priced at $0.08 each. The offering is expected to close soon.

Each unit consists of one common share and one-half of a non-transferable common share purchase warrant. Each whole warrant allows the purchase of one common share at $0.15 per share within 24 months.

An acceleration clause is in place: if shares trade at or above $0.25 CDN for 10 consecutive days, the company can accelerate the warrant expiry to 30 days post-notice.

Insiders may participate; such participation will be exempt from certain formal valuation and minority shareholder approval requirements. The proceeds will go towards general administrative and marketing expenses.