GALORE ANNOUNCES UPDATES ON ITS NON-BROKERED PRIVATE PLACEMENT

Galore_19092019

Vancouver, B.C., Galore Resources Inc. (TSX-V: GRI) announces that further to its news releases of June 24 and August 13, 2019, wherein it had announced plans to conduct a non-brokered private placement financing for up to 40,200,000 units at a price of $0.05 per unit to raise gross proceeds of up to $1,500,000, the Company advises it is
continuing to collect subscriptions from investors. The Company has received conditional acceptance of the TSX Venture Exchange and plans to submit documentation and announce a closing on a first tranche of the financing in the next few days. The Company will be following up on completing and closing on a second tranche in the next 30 days. Each unit (a “Unit”) will consist of one common share and one share purchase warrant. Each warrant will be exercisable into one additional common share at a price of CAD $0.10 per share for a period of two years from the date of closing of the financing. At the discretion of the Company, Warrants will be subject to an accelerated expiry, such that if the closing price equals or exceeds $0.15 per share for 10 consecutive trading days, then the Company will provide notice to the warrant holders that the exercise period of the Warrants shall be reduced to 30 days, with the reduced period commencing seven calendar days following the tenth consecutive trading day.

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