Press Release: Barak Fund : Galane Gold Ltd. Announces Satisfaction of Conditions Precedent of Loan Facility

TORONTO, Sept. 17, 2018 (GLOBE NEWSWIRE) -- Galane Gold Ltd. ("Galane Gold" or the "Company") (TSXV: GG; OTCQB:GGGOF) is pleased to announce that the Company has satisfied the majority of the various conditions precedent required under its previously announced US$5,000,000 secured loan facility with Barak Fund SPC Limited. The remaining substantive conditions precedent to the effectiveness of the loan agreement are for the Company to raise a minimum of US$2,000,000 of equity, and the execution and delivery of a three year offtake agreement, which is well advanced and should be completed by the end of September. The proceeds of the loan facility and of the equity issue will allow the company to restart the Galaxy mine.