Galleon Gold closes shares for debt settlement
Galleon Gold Corp. has closed the previously announced debt settlement for services rendered to Explor Resources Inc. Under terms of the 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.
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