Aug 5 (Reuters) - Galantas Gold Corp GAL.V :
* GALANTAS ANNOUNCES PROPOSED PRIVATE PLACEMENT
* NET PROCEEDS TO BE RAISED BY PRIVATE PLACEMENT ARE INTENDED TO BE USED TO IMPLEMENT OPTIMISATION INITIATIVES AT OMAGH GOLD MINE
* EXPECTED TO INCLUDE FUNDS RAISED IN BOTH UK & CANADIAN CURRENCY
* PRIVATE PLACEMENT IS FOR A MAXIMUM OF 23,529,412 SHARES, AT AN ISSUE PRICE OF UK£0.0425 (CAD$0.068) PER SHARE