Galleon Gold Completes Shares for Debt Settlement
Galleon Gold Completes Shares for Debt
Settlement
Toronto, Ontario--(Newsfile Corp. - January 8, 2021) - Galleon Gold Corp. (TSXV: GGO) (the "Company"
or "Galleon Gold") reports it has settled (the "Settlement") a claim filed against Explor Resources Inc. prior
to its amalgamation with Galleon Gold. Under terms of the Settlement, the Company will issue 6,311,479
common shares and 908,853 warrants to settle outstanding debt of $694,262.64 and for a release of any
other claims, demands and future actions. Each warrant shall entitle the holder to purchase one common
share at a price of $0.18 at any time on or before January 8, 2024. The securities issued pursuant to the
settlement will be subject to a four-month hold period ending May 9, 2021. The TSX Venture Exchange has
conditionally approved the Settlement.
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. Drilling is currently underway at the Company's flagship project, the West Cache Gold
Project, 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/71649