Vancouver, B.C., Galore Resources Inc. (TSX-V: GRI) is pleased to announce the Company has set the date for its Annual and Special General Meeting for Tuesday, November 16, 2021 at 10:30am Pacific Standard Time. Due to continuing impediments with the current COVID pandemic and in order to mitigate potential risks to shareholders and the Company’s employees, Galore will again be holding its meeting electronically by teleconference. Attendance details will be provided in the Company’s information circular.
Galore also announces that it will be seeking TSX Venture Exchange acceptance to the conversion of debt to shares, pursuant to TSX-V Exchange Policy 4.3. The debt settlement is being conducted as a means of continuing to reduce the Company’s debt by diminishing a portion of outstanding historical management fees. Fees due to the CEO and CFO of the Company have continued to accrue in order to alleviate strain on the Company’s cash flow. A total of 11 invoices have been rendered by each Officer for their monthly management fees since October, 2020. As Exchange Polices stipulate that only up to a maximum of CAD$2,500.00 of debt owed to individuals for management fees each month may be settled by the issuance of shares, the Company intends to settle CAD$27,500.00 with each Officer for a total of CAD $55,000.00 by the issuance of an aggregate 2,200,000 common shares at a price of CAD$0.025 per share.
The shares for debt settlement shall be subject to acceptance by the TSX Venture Exchange and all securities issued will be subject to a 4-month hold period from the date of issuance.
Please contact Mike McMillan, CEO by telephone (210) 860-9212 (USA) or by email to: [email protected] should you have any questions or comments.
We thank our many stockholders, and prospective investors, for your continued support.
ON BEHALF OF THE BOARD
“Michael McMillan” President and CEO
To find out more about Galore Resources (TSX.V:GRI) please contact: Mike McMillan at (210) 860-9212 (USA)
Please visit our website at www.galoreresources.com or contact us at [email protected].
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Original Article: https://img1.wsimg.com/blobby/go/106ede1e-74fb-433d-9d8c-39c5594e5e86/downloads/NR-Sept9-2021(ShrDebt%26AGM).pdf?ver=1631290843337
