Galleon Gold Engages Independent Trading Group as Its Market Maker
Galleon Gold Engages Independent Trading
Group as Its Market Maker
Toronto, Ontario--(Newsfile Corp. - March 20, 2023) -
Galleon Gold Corp.
(TSXV: GGO) (the
"
Company
") announces that, subject to regulatory approval, it has engaged the services of Independent
Trading Group ("ITG") to provide market-making services in accordance with TSX Venture Exchange
policies. ITG will trade shares of the Company on the TSXV and all other trading venues with the
objectives of maintaining a reasonable market and improving the liquidity of the Company's common
shares.
Under the agreement, ITG will receive compensation of $5,000 per month in advance. The agreement is
for an initial term of three months and will renew for additional one-month terms unless terminated. The
agreement may be terminated by either party with a 30 days' notice. There are no performance factors
contained in the agreement and ITG will not receive shares or options as compensation. ITG and the
Company are unrelated and unaffiliated entities.
About Independent Trading Group
Independent Trading Group (ITG) Inc. is a Toronto based IIROC dealer-member that specializes in
market making, liquidity provision, agency execution, ultra-low latency connectivity, and bespoke
algorithmic trading solutions. Established in 1992, with a focus on market structure, execution and
trading, ITG 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 exploration and development company focused on advancing 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.
Detail engineering design
and baseline studies in support of a permit application for an underground bulk sample are underway.
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 document contains certain forward-looking statements that reflect the current views and/or
expectations of Galleon Gold with respect to its long-term strategy, proposed work, plans 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, risks inherent in mineral exploration, risks associated with development, construction
and mining operations, risks related to infectious diseases, including Covid-19 and 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/159137