Crime Correspondent with the Irish Daily Mirror Cathal McMahon says the man was shot three times after going to the Ballymacan area near Collon to meet a number of men on Monday night.
He says a post mortem is being carried out.
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“It is expected to show that Mr. Gallagher died from gunshot wounds – he was shot at least three times in the chest and stomach during this attack, which has all the hallmarks of a gangland hit” he said.
“It would appear that he was lured to the area by people known to him; and one line of inquiry that gardai are looking at is that he was lured on the pretence of an owed drugs debt” he added.