TORONTO: February 25, 2020. Galleon Gold Corp. (TSXV: GGO) (the “Company” or “Galleon Gold”) announces that it has closed the previously announced debt settlement agreement (see Press Release dated February 13, 2020) (the “Debt Settlement”) for an aggregate amount of $70,000 for interest earned on a Convertible Debenture. The Debt Settlement was settled by the issuance of 1,000,000 common shares at a deemed price of $0.07 per share.
The securities issued pursuant to the Debt Settlement will be subject to a four-month hold period commencing on the date of issuance.
About Galleon Gold
Galleon Gold is a North American exploration and development company focused on advancing two projects. The Neal Gold Project in Idaho is owned in partnership Eric Sprott and the West Cache Gold Project is located 13 km west of Timmins Ontario. Both projects are located in known mining camps with excellent infrastructure.
Galleon Gold will be exhibiting at PDAC 2020, the Company invites investors and shareholders to visit booth #3302 at the Investor Exchange in the south building of the Metro Toronto Convention Center from March 1 to March 4, 2020.
For further information:
Galleon Gold Corp.
R. David Russell
Chairman and CEO
T. (416) 644-0066
Forward Looking Statements
Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Without limitation, statements regarding potential mineralization and resources, exploration results, expectations, plans, and objectives of Galleon Gold are forward-looking statements that involve various risks. The following are important factors that could cause Galleon Gold ’s actual results to differ materially from those expressed or implied by such forward-looking statements: changes in the world-wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future exploration activities and cash flows, and the uncertainty of access to additional capital. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events may differ materially from those anticipated in such statements. Galleon Gold undertakes no obligation to update such forward-looking statements if circumstances or management’s estimates or opinions should change. The reader is cautioned not to place undue reliance on such forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.