Galleon Gold Closes Shares for Debt Settlement
Galleon Gold Closes Shares for Debt
Settlement
Toronto, Ontario--(Newsfile Corp. - July 13, 2020) - Galleon Gold Corp. (TSXV: GGO) (the "Company"
or "Galleon Gold") announces it has closed the previously announced debt settlement for services
rendered to Explor Resources Inc. (the "Debt Settlement") (see press release dated July 6, 2020). Under
terms of the Debt Settlement the Company and service provider have come to terms with respect to a
contract dispute and monies owed by Explor Resources prior to its amalgamation with Galleon Gold.
The Company has issued 4,500,000 common shares to the service provider to settle all claims,
demands and future actions. The securities issued pursuant to the Debt Settlement will be subject to a
four-month hold period ending November 14, 2020.
About Galleon Gold
Galleon Gold is a North American exploration and development company. Eric Sprott holds
approximately 23% of the Company's outstanding common shares and is also the Company's partner on
the Neal Gold Project in Idaho. The Company's flagship project, the West Cache Gold Project, is located
13 km from Timmins, Ontario.
FOR FURTHER INFORMATION:
Galleon Gold
R. David Russell
Chairman and CEO
T. (416) 644-0066
www.galleongold.com
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.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/59657