Notification of Change to Significant Shareholding

A 10.97% stake in Galantas Gold changed hands for $38.35 million in a private deal.

What the company is saying

Galantas Gold Corporation reports that Luis Enrique Catril Espinoza sold 91,313,890 common shares, representing 10.97% of the company's issued and outstanding shares, at CAD$0.42 per share for total proceeds of CAD$38,351,833.80. The transaction was executed under a private share purchase agreement dated 17 August 2026 with Alpayana S.A.C. and completed on 21 August 2026. The company frames this as a routine notification of a significant shareholding change, emphasizing regulatory compliance and transparency. The announcement confirms that Mr. Catril no longer holds any shares or other securities in Galantas and that there are no joint actors involved in the transaction. The tone is factual and neutral, with no forward-looking statements or commentary on the buyer's intentions. The company does not discuss any operational or strategic implications of the change in ownership.

What the data suggests

The disclosed figures show a single, large secondary market transaction: 91,313,890 shares sold at CAD$0.42 each, totaling CAD$38,351,833.80. This stake represented 10.97% of Galantas Gold's issued and outstanding shares prior to the sale. The transaction was executed privately between Mr. Catril and Alpayana S.A.C., with the agreement signed on 17 August 2026 and the sale completed on 21 August 2026. After the sale, Mr. Catril holds no shares or other securities in the company. The early warning report filed on 3 September 2026 confirms there are no joint actors. The announcement provides no information on operational, financial, or strategic impacts for Galantas Gold, nor does it disclose any intentions or plans from Alpayana S.A.C. The data is complete for the transaction but does not extend to company performance or future direction.

Analysis

The announcement is a factual disclosure of a significant shareholding change, detailing the disposal of 91,313,890 common shares by Luis Enrique Catril Espinoza at a specified price and date. All key claims are realised and supported by precise numerical data, with no forward-looking statements or projections present. The tone is neutral, and there is no promotional or exaggerated language. The transaction is already completed, so the execution distance is immediate. Although the transaction value is large (CAD$38,351,833.80), it is a secondary market share sale and does not involve a capital outlay by the company or imply future operational benefits or risks. There is no attempt to frame the event as strategically transformative or to inflate its significance beyond the facts disclosed.

Risk flags

• ●The transfer of a 10.97% stake to a new shareholder introduces uncertainty regarding Alpayana S.A.C.'s intentions, as no information is provided about their plans or potential influence on the company.
• ●The announcement does not address whether the new substantial shareholder will seek board representation or influence corporate strategy, leaving a gap in governance transparency.
• ●No operational or financial impact is disclosed, so investors have no basis to assess whether this ownership change will affect company performance or direction.

Bottom line

This is a straightforward notification of a major secondary share sale: Luis Enrique Catril Espinoza has exited his 10.97% stake in Galantas Gold Corporation, selling 91,313,890 shares to Alpayana S.A.C. for CAD$38,351,833.80 at CAD$0.42 per share. The transaction is already completed and does not involve new capital for the company or any disclosed operational changes. There is no information on Alpayana S.A.C.'s intentions or whether this change will affect governance or strategy. For investors, the most important takeaway is that a large block of shares has changed hands, but the practical impact on Galantas Gold's business remains unknown until further disclosures are made. Watch for any future statements from the company or Alpayana S.A.C. regarding their plans or influence.

Announcement summary

(TSX-V:GAL) Galantas Gold Corporation announces that Luis Enrique Catril Espinoza disposed of 91,313,890 common shares of the Company on 21 August 2026 at a price of CAD$0.42 per Common Share, for aggregate consideration of CAD$38,351,833.80. The disposal was made pursuant to a private share purchase agreement dated 17 August 2026 between Mr. Catril and Alpayana S.A.C. This transaction corresponds to the acquisition by Alpayana announced by the Company on 27 August 2026. Immediately prior to the transaction, Mr. Catril beneficially owned and controlled 91,313,890 Common Shares, representing approximately 10.97% of the Company's issued and outstanding Common Shares on a non-diluted basis. Following completion of the transaction, Mr. Catril does not beneficially own or control any Common Shares or other securities of the Company. Mr. Catril's early warning report filed under National Instrument 62-103 on September 3, 2026 states that there are no joint actors in respect of the transaction. Mr. Catril has ceased to be a substantial shareholder of the Company for the purposes of the AIM Rules.

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