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Galleon Gold Announces Results of Annual Meeting of Shareholders and Interest Payment on Convertible Debentures
Toronto, Ontario--(Newsfile Corp. - May 27, 2025) - Galleon Gold Corp. (TSXV: GGO) (FSE: 3H90) ...
About this update from Galleon Gold Corp
[{"type":"text","content":"Galleon Gold Announces Results of Annual Meeting of Shareholders and Interest Payment on Convertible DebenturesToronto, Ontario--(Newsfile Corp. - May 27, 2025) - Galleon Gold Corp. (TSXV: GGO) (FSE: 3H90) (the \"Company\" or \"Galleon Gold\") is pleased to announce that, all of the resolutions put forth at the Annual and Special Meeting of Shareholders (the \"Meeting\") held on May 27, 2025 were approved. At the Meeting, shareholders elected the following directors to hold office for the ensuing year: R. David Russell, Thomas Kofman, James T. O'Neil Jr., Mario Colantonio, Gerhard Merkel, Michael Hobart and Richard F. Nanna. Shareholders also approved resolutions to re-appoint Doane Grant Thornton LLP as independent auditors of the Company and for the continuation of the stock option plan.Issuance of Shares for Interest Payment on Convertible DebenturesThe Company also reports that further to its news release of April 30, 2025, under the terms of the convertible debentures (the \"Convertible Debentures\") issued on April 12, 2024, April 19, 2024 and April 29, 2024 (see news releases dated April 12, 19, 29, 2024) it has satisfied its obligation to pay an aggregate of $154,204.65 interest accrued by issuing 601,207 common shares (the \"Common Shares\") to the holders of the Convertible Debentures.The Common Shares to be issued in respect of the Interest Payment will be subject to a hold period of four months and one day ending September 30, 2025. The Company has received the final acceptance of the TSXV.Certain insiders and officers of the Company are holders of Convertible Debentures. As a result, the issuance of Common Shares is considered to be a \"related party transaction\" under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (\"MI 61-101\"). The issuance of Common Shares in respect of these individuals is exempt from the minority approval and formal valuation requirements of MI 61-101 pursuant to subsections 5.5(b) and 5.7(1)(a) of MI 61-101 as neither the fair market value of the debt, nor the fair market value of the Common Shares to be issued in settlement of the debt, exceeds 25% of the Company's market capitalization.Canadian Mining Expo in TimminsThe Company will be attending the Canadian Mining Expo (CME) in Timmins, Ontario from June 4 to June 5, 2025, at the McIntyre...