Vancouver, British Columbia--(Newsfile Corp. - July 3, 2014) -
Galahad Metals (CSE: RHX) is one of the latest new listings on the Canadian Securities Exchange, and is trading under the symbol "RHX". Concurrent with its new CSE listing, the company has voluntarily
de-listed from the TSX Venture Exchange.
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Galahad is a development stage junior mining company engaged in the identification, acquisition, evaluation and exploration of precious and base metals, with mineral properties in Canada and the United States.
The company is considering a transition into an energy company, and has applied to change its name to Rosehearty Energy Inc.
In April, the company purchased approximately 60% of Arax Energy for the sum of $1.00. In the event that Arax's indirectly held Russian subsidiary produces more than an average of 500 barrels of oil equivalent per day for a period of 6
months, ending no later than December 31, 2016, then Galahad agrees to pay a bonus payment of approximately CDN$3 million. The property vendor has the option to receive payment in shares, which would be priced at the higher of $0.50 per
share or the four week volume weighted average price prior to the payment.
The subject property is located in the Russian Republic, on a peninsula between the Black Sea and the Sea of Azov, which is one of the oldest oil producing regions in Russia, dating back to 1864, and is still active in exploration and production
today with approximately 68 oil fields operating in the area.
The company will be releasing more information as it becomes available, with a NI 51-101 independent technical report currently being prepared, which will be filed on Sedar.com.
Galahad currently has 56.2 million shares outstanding. For more information, please visit the company's website
www.galahadmetals.com or contact Robin Dow CEO at 1-888-834-7708 or by email at
robin@dowgroup.ca.
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