Galloper Gold Announces Proposed Debt Settlement

Executive Summary

• Galloper Gold Corp. plans to settle $65,000 of debt by issuing 1,000,000 common shares at a deemed price of $0.065 per share, pending regulatory approval.
• The issued shares will be subject to a four‑month statutory hold period after the closing of the settlement.
• The settlement relates to past management services provided to the company; drilling results from its recent program remain pending.

Key Details

• Debt Settlement Amount: $65,000 (excluding GST).
• Shares to be Issued: 1,000,000 common shares.
• Deemed Share Price: $0.065 per share.
• Total Consideration: $65,000 in equity.
• Purpose: To settle outstanding debts owed for prior management services.
• Regulatory Condition: Settlement is subject to regulatory approval.
• Hold Period: Issued shares will be placed under a statutory hold period of four months following settlement closing, per securities legislation.
• Company Focus: Ongoing mineral exploration in the Central Newfoundland Gold Belt; recent diamond drilling program at Glover Island completed (six holes) with results pending.

Notable Quotes

(No direct quotes were provided in the release.)