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Galloper Gold Corp. (CSE: BOOM,OTC:GGDCF) (OTC Pink: GGDCF) (the "Company" or "Galloper") announces that, subject to regulatory approval, the Company intends to complete a debt settlement by the issuance of 1,000,000 common shares (each a "Share") at a deemed price of $0.065 per Share to settle debts owing pursuant to past management services provided to the Company for a total amount of $65,000 (excluding goods and services tax) (the "Debt Settlement").
The Shares issued in connection with the Debt Settlement will be subject to a statutory hold period of four months following the closing of the Debt Settlement in accordance with applicable securities legislation.
About Galloper Gold Corp.
Galloper is focused on mineral exploration in the Central Newfoundland Gold Belt with its flagship Glover Island Property, 24 km southeast of Corner Brook, and its Mint Pond prospect in the Gander area. Galloper recently completed the first diamond drilling program at Glover Island since 2012, completing six holes with results pending.
For more information please visit www.GalloperGold.com and the Company's profile on SEDAR+ at www.sedarplus.ca.
On behalf of the Board of Directors,
Mr. Hratch Jabrayan
CEO and Director
Galloper Gold Corp.
Company Contact:
info@gallopergold.com
Tel: 778-655-9266
Investor Relations:
MarketSmart Communications
Tel: 877-261-4466
Forward-Looking Statements
This news release contains forward-looking statements within the meaning of applicable securities laws. The use of any of the words "anticipate", "plan", "continue", "expect", "estimate", "objective", "may", "will", "project", "should", "predict", "potential" and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company cannot give any assurance that they will prove correct. Since forward-looking statements address future events and conditions, they involve inherent assumptions, risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of assumptions, factors and risks. These assumptions and risks include, but are not limited to, assumptions and risks associated with mineral exploration generally, risks related to capital markets, risks related to the state of financial markets or future metals prices and the other risks described in the Company's publicly filed disclosure.
Management has provided the above summary of risks and assumptions related to forward-looking statements in this news release in order to provide readers with a more comprehensive perspective on the Company's future operations. The Company's actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits the Company will derive from them. These forward-looking statements are made as of the date of this news release, and, other than as required by applicable securities laws, the Company disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise.
Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of securities in the United States. The securities have not been and will not be registered under the U.S. Securities Act or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/275093
