Galantas Gold closes second part of private placement

Shares in Galantas Gold are up more than 1% as it said the the second part of the private placement has closed.

Melquart Ltd subscribed for 5.72m shares and was the only subscriber in the second closing of the placing. The purchase took Melquart's stake to 13% of Galantas' issued capital.

The gold producer and explorer with a 100% interest in Northern Ireland's Omagh gold mine said a four-month hold period would apply, expiring on 3 July.

At 10:37 GMT, shares in AIM-quoted Galantas were up 1.4% to 7.22p each.