Baru Gold Announces Shares for Debt Transaction

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[{"type":"text","content":"Baru Gold Announces Shares for Debt Transaction\n\n\n (TheNewswire)\n \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n August 29, 2024 –\n \n\n TheNewswire -\n \n\n Vancouver, BC\n \n\n - Baru\nGold Corp. (“\n \n\n Baru\n \n\n ” or the “Company”)\n \n\n (\n \n\n TSX.V:BARU | OTCQB:BARUF\n \n\n )\n \n\n announces that it\n \n\n has\napproved the settlement in the amount of $163,526.17 of debt through\nthe issuance of common shares of the Company (the “\n \n\n Debt Settlement\n \n\n ”).\nPursuant to the Debt Settlement, the Company would issue\n \n\n 10,901,745\n \n\n common\nshares of the Company at a deemed price of\n \n\n $0.015\n \n\n per common\nshare to Shidan Murphy, a director of the Company (the “\n \n\n Creditor”\n \n\n ).\n \n\n\n\n\n\n The Debt Settlement is\nfor $163,526.17 in cash advances from Shidan Murphy to the Company\nfrom November 2022 to May 2023.\n \n\n The issuance of\nthe common shares to the Creditor is subject to the approval of the\nTSX Venture Exchange. All securities issued will be subject to a four\nmonth hold period which will expire on the date that is four months\nand one day from the date of issue.\n \n\n\n\n Insiders of the Company participation in the foregoing\noffering constitutes a \"related party transaction\" as\ndefined under\n \n\n Multilateral\nInstrument 61-101\n \n\n\n Protection of Minority Security Holders in\nSpecial Transactions\n \n\n\n (\n \n\n “MI 61-101”\n \n\n ).\nSuch participation is exempt from the formal valuation and minority\nshareholder approval requirements of MI 61-101 as neither the fair\nmarket value of the securities acquired by the insiders, nor the\nconsideration for the securities paid by such insiders, exceed 25% of\nthe Company's market capitalization.\n \n\n\n\n ABOUT BARU GOLD CORP.\n \n\n\n Baru Gold Corporation is a dynamic junior gold developer with NI\n43-101 gold resources in Indonesia, one of the top ten gold producing\ncountries in the world. Based in Indonesia and North America, Baru’s\nteam boasts extensive experience in starting and operating small-scale\ngold assets.\n \n\n\n BARU GOLD CORP\n \n\n\n\n Per:\n \n\n “Terrence Filbert”\n \n\n\n\n Terrence Filbert, Director\n \n President & CEO\n \n\n\n\n\n [email protected]\n \n\n\n\n\n\n\n\n\n F...

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