Galileo’s shares were halted on Monday morning ahead of a capital raise.
The term sheet sent to potential investors said Galileo would raise $20 million at $1.20 per share, which would be a 9 per cent discount to the last close. IGO and Creasy are both already substantial shareholders at Galileo Mining, and would cornerstone the placement. Potential investors were told Galileo would use the money to accelerate drilling at its Callisto palladium-nickel discovery and target testing along the five kilometer strike line in Norseman project. Galileo would also use it to drill and explore at other Norsemen targets, Mission Sill and Jimberlana.co-edits Street Talk, specialising in private equity, investment banking, M&A and equity capital markets.
stocksandrocks Imagine if everyone invested like Mark Creasy. Cough cough. $PGD 🤔
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