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The private placement will include up to 30 million shares at a price of 4.2p per share, with insiders expected to participate.
This is at a discount to Galantas' current share price of 5.1p/share.
The company said a four-month-and-one-day hold period would apply to the shares and the placement was subject to TSXV and regulatory approval.
In June, Galantas reached the main Kearney gold vein in underground development at Omagh and has since been producing limited gold concentrate from vein, which is around 15m below the previously mined openpit.
It aims to raise further funds to enable full production at the mine.
