Baru Gold Announces Shares For Debt Transaction And Cancellation Of Previously Announced Debt Settlement

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[{"type":"text","content":"Baru Gold Announces Shares For Debt Transaction And Cancellation Of Previously Announced Debt Settlement\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 June 5, 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 “BARU: TSX.V | BARUF: OTCQB”\n \n \n reports that its board of directors has approved\nthe settlement of up to $137,500 of debt through the issuance of\ncommon shares of the Company (the “Debt Settlement”). Pursuant to\nthe Debt Settlement, the Company would issue up to 6,875,000 common\nshares of the Company (the “Shares”) at a deemed price of $0.02\nper Share to certain directors and officers of the Company (the\n“Creditors”)\n \n \n \n \n The Debt Settlement is for $137,500 in management and\ndirector fees from October 2022 to May 2024. The issuance of the\ncommon shares to the Creditors is subject to the approval of the TSX\nVenture 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 The proposed settlement of $157,500 of debt through the\nissuance of 7,875,000 common shares as announced on May 24, 2024, is\nhereby cancelled.\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 a...

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