Pursuant to National Instrument 62-103
TORONTO, July 28 /CNW/ - On July 22, 2010 Kenglo One Limited ("Kenglo"), Third Floor, Conway House, 7-9 Conway Street, St. Helier, Jersey, JE2 3NT, acquired 24,550,000 units (each a "Unit") of Galantas Gold Corporation ("Galantas") from treasury at a price of $0.05 per Unit (the "Acquisition"). Each Unit consisted of one common share in the capital of Galantas (each a "Galantas Share") and one common share purchase warrant of Galantas (each a "Galantas Warrant"). Each Galantas Warrant is exercisable into one Galantas Share upon payment of an exercise price of $0.10 per Galantas Share at anytime until July 22, 2012.
As a result of the Acquisition and assuming the exercise of the Galantas Warrants, Kenglo acquired the right to exercise control or direction over 49,100,000 Galantas Shares, being 18.87% of the issued and outstanding Galantas Shares as at July 22, 2010.
As at the date hereof, Kenglo owns an aggregate of 45,550,000 Galantas Shares and 45,550,000 Galantas Warrants (21,000,000 of each having been acquired on June 8, 2010). Assuming the exercise of all of the Galantas Warrants, Kenglo owns or exercises control or direction over an aggregate of 91,100,000 Galantas Shares, being approximately 32.40% of the issued and outstanding Galantas Shares as at July 22, 2010.
Kenglo is wholly-owned by Benbrackk Charkit Limited ("Holdco"), which is wholly-owned by the BBCK Settlement Trust (the "Trust"), the trustee of which is Baccata Trustees Limited (the "Trustee"), which has control or direction over the Trust. The address of Trustee is as above. The beneficiaries of the Trust are Christopher Brown, his issue and his remoter issue.
Kenglo may, depending on market and other conditions, increase or decrease its beneficial ownership, control or direction over Galantas Shares or other securities of Galantas through market transactions, private agreements, treasury issuances, exercise of convertible securities or otherwise.
SOURCE Kenglo One Limited
For further information: For further information: or a copy of the corresponding early warning report, contact: Ann Williams, tel: (44) 1534 870670