Galway Metals Inc. receives notice of request for BCSC hearing
TORONTO, May 20, 2014 /CNW/ - Galway Metals Inc. (TSX-V: GWM) (the "Company") has been notified that a shareholder of the Company has submitted a request for a hearing and review by the British Columbia Securities Commission (the "BCSC") of the decision (the "Decision") of the TSX Venture Exchange to approve the Company's private placement (the "Financing") of units ("Units") that closed on April 16, 2014, as announced by the Company in a press release on the same date. The shareholder has requested that the BCSC issue an order (i) setting aside the Decision and (ii) issuing a cease trade order in respect of the Units (and underlying securities) issued in the Financing until the Financing has effectively been unwound. All subscribers to the private placement have been informed of the appeal. It is the Company's understanding that the Exchange will make submissions to the BCSC in defense of its decision to approve the Financing.