Galleon Gold Engages ICP Securities Inc. for Automated Market Making Services
Galleon Gold Engages ICP Securities Inc. for
Automated Market Making Services
Toronto, Ontario--(Newsfile Corp. - January 26, 2024) -
Galleon Gold Corp
. (TSXV: GGO) (the
"
Company
") is pleased to announce that, subject to regulatory approval, it has engaged the services of
ICP Securities Inc. ("ICP") to provide automated market making services, including use of its proprietary
algorithm, ICP Premium™, in compliance with the policies and guidelines of the TSX Venture Exchange
and other applicable legislation.
ICP will receive a fee of C$7,500 plus applicable taxes per month, payable monthly in advance. The
agreement between the Company and ICP is for an initial term of three (3) months (the "Initial Term") and
shall be automatically renewed for subsequent one (1) month terms (each month called an "Additional
Term") unless either party provides at least thirty (30) days written notice prior to the end of the Initial
Term or an Additional Term, as applicable. There are no performance factors contained in the
agreement and no stock options or other compensation are being granted in connection with the
engagement. ICP and its clients may acquire an interest in the securities of the Company in the future.
ICP is an arm's length party to the Company. ICP's market making activity will be primarily to correct
temporary imbalances in the supply and demand of the Company's shares. ICP will be responsible for
the costs it incurs in buying and selling the Company's shares, and no third party will be providing funds
or securities for the market making activities.
ICP Securities Inc.
ICP Securities Inc. (ICP) is a Toronto based IIROC dealer-member that specializes in automated market
making and liquidity provision, as well as having a proprietary market making algorithm, ICP Premium™,
that enhances liquidity and quote health. Established in 2023, with a focus on market structure,
execution, and trading, ICP has leveraged its own proprietary technology to deliver high quality liquidity
provision and execution services to a broad array of public issuers and institutional investors.
About Galleon Gold
Galleon Gold is an advanced exploration and development company focused on the West Cache Gold
Project in Timmins, Ontario.
The West Cache Gold Project is located 7 km northeast of Pan American
Silver's Timmins West Mine and 14 km southwest of Newmont's Hollinger Mine.
A 2022 Preliminary
Economic Assessment (PEA) for the Project demonstrates strong economics. The Company is in the
process of submitting permit applications for an 86,500-tonne underground bulk sample.
For further information:
Galleon Gold
R. David Russell
Chairman and CEO
T. (416) 644-0066
www.galleongold.com
Investor Relations
Harbor Access
Graham Farrell
T. (416) 842-9003
Forward-Looking Statements
This news release contains certain "forward looking statements", as defined under applicable Canadian
securities laws, that reflect the current views and/or expectations of Galleon Gold with respect to its long-
term strategy, proposed work, plans, bulk sample program and other reports including the PEA for its
projects.
Forward-looking statements are based on the then-current expectations, beliefs, assumptions,
estimates and forecasts about the business and the markets in which Galleon Gold operates.
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 and uncertainty of access to
additional capital, risks inherent in mineral exploration, delays in the receipt of government approvals,
risks associated with development, construction, mining operations and third party contractor activities,
risks related to unanticipated events related to health, safety and environmental matters. 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/195822