The Ottawa-based junior mining firm stated it would issue around four million units, including common shares and warrants and flow-through common shares and warrants.
The 550,000 regular units are priced at $0.09 each, with the $49,500 in proceeds to be used for working capital.
Flow-through units, at $0.11 each, will be used for diamond drilling and geophysics exploration at Galahad's Recourt Property in northern Quebec. Total proceeds are expected to reach $380,600.
Galahad will also pay a finder's fee in association with the placement.