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Galleon Gold Amends Credit Agreement with Pan American Silver
Toronto, Ontario--(Newsfile Corp. - March 31, 2026) - Galleon Gold Corp. (TSXV: GGO) (OTCQX: GG...
About this update from Galleon Gold Corp
Galleon Gold Amends Credit Agreement with Pan American SilverToronto, Ontario--(Newsfile Corp. - March 31, 2026) - Galleon Gold Corp. (TSXV: GGO) (OTCQX: GGOXF) (FSE: 3H90) (the "Company" or "Galleon Gold") announces that the Company and Pan American Silver Corp. ("Pan American") have made an amendment to the credit agreement (the "Credit Agreement") for the outstanding credit facility provided by Pan American and detailed in the Company's December 30, 2025 press release.The amendment agreement (the "Amendment") formalizes the parties' prior agreement to remove the provisions permitting the Company to satisfy interest payments and standby fees through the issuance of common shares of the Company. Pursuant to the Amendment, such provisions have been removed from the Credit Agreement and accordingly, all interest and standby fee obligations under the Credit Agreement will be payable exclusively in cash.All other material terms of the Credit Agreement remain unchanged and continue in full force and effect. Pan American Silver is a related party of the Company for purposes of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"), and the Amendment constitutes a "related party transaction" for the Company under MI 61-101. In connection with the Amendment, the Company has relied on the exemption from the formal valuation requirement under Section 5.5(b) of MI 61-101 as the Company's Common Shares are not listed or quoted on a specified market, and exemption from the minority shareholder approval requirement under Section 5.7(1)(f) of MI 61-101, as the credit facility, as amended, is now a commercial loan with no equity or voting component. Grant of Stock OptionsThe Company also announces that pursuant to the Company' stock option plan (the "Plan") a total of 875,000 stock options have been granted to directors, officers, employees and consultants of the Company. The options are exercisable into one common share of the Company at a price of $0.98, vest immediately and expire on March 31, 2031.About Galleon GoldGalleon Gold is advancing the West Cache Gold Project with a disciplined, de-risking strategy centered on resource growth and an upcoming 86,500-tonne bulk sample program, positioning the Company to unlock long-term shareholder value. For further information:Galleon GoldR. David Russell...