Ready Set Gold arranges early repayment of USD $1.26 Million
Ready Set Gold Corp. has successfully negotiated the early repayment of a convertible debt owned to the Company by Dreamfields Brands Inc. The note had originally been issued by Ready Set Gold's predecessor company Omni Commerce Corp. in August of 2019 and remained as debt outstanding to the Company post change of business. The debt will be settled in 6 payments beginning in June 2021 and with the final payment being received in late October 2021.
In addition, Ready Set Gold is pleased to announce the appointment of Mr. Peter Simeon to the Board of Directors effective immediately. Mr. Simeon has over 18 years of experience as a lawyer focused on securities, corporate finance, and mergers and acquisitions. Since February 2015, he has been a partner at Gowling WLG (Canada) LLP and has extensive experience in corporate, commercial and securities law. Prior to 2015, he was a partner at a boutique corporate law firm in Toronto. Mr. Simeon has a Bachelor of Arts from Queen's University and a law degree from Osgoode Hall at York University. Mr. Simeon acts as an independent director for several publicly traded companies in Canada.
Mr. Simeon has been granted 200,000 incentive stock options for five years at a price of 25 cents. The options will be equally vested quarterly over one year from grant date. The stock options are subject to the acceptance of the Canadian Securities Exchange.
"We are very happy to have reached this agreement with Dreamfields Brands. The funds received will be applied to the exploration of our Ontario gold exploration projects and for working capital purposes. As per the nature of the transaction, this USD $1.26 million funds will be for the benefit of our shareholders while being non dilutive to the capital structure. We thank the management of Dreamfields Brands for working with us closely to come to a mutually beneficial agreement," said Christian Scovenna, CEO & Board member of Ready Set Gold.
Ready Set Gold also announces the resignations of Jason Jessup and John Veltheer from the Board of Directors. The Company sincerely wishes to thank both John and Jason for their valuable contributions to advance the Company since its inception and wish them well in all their current and future ventures.
About Ready Set Gold Corporation
Ready Set Gold Corp. is a precious metals exploration company listed on the Canadian Securities Exchange under symbol RDY and the Boerse Frankfurt Exchange as 0MZ. The Company has consolidated and now owns a 100% interest in the Northshore Gold Project, located in the Schreiber-Hemlo Greenstone Belt near Thunder Bay, Ontario which is prospective for gold and silver mineralization. The Company also owns a 100% interest in two separate claim blocks totaling 4,453 hectares known as the Hemlo Eastern Flanks Project. The Company also holds an option to acquire a 100% undivided interest in a continuous claim block totaling 1,634 hectares comprising the Emmons Peak Project located 50 km south of Dryden, Ontario that is near the Treasury Metals Goliath and Goldlund advanced gold development projects.
Tags: Northern Ontario / Deals & Financial / Gold / All Articles