Goldhills Holding Ltd. Closes Debt Settlements

Goldhills Holding Ltd. (GHL) closed a previously announced debt settlement on August 4, 2026. The company issued 2,020,660 common shares at $0.05 per share to settle $101,033 of indebtedness. The settlement resolves two related-party loans from director Steven Sangha ($20,000 and $25,000) plus other accrued amounts.

The actual settlement amount ($101,033) and share count (2,020,660) were lower than the July 2 proposal ($158,133 debt, 3,162,660 shares). Shares are subject to a four-month statutory hold period. The transaction relied on MI 61-101 exemptions for valuation and minority shareholder approval.

Goldhills Holding Ltd. (GHL) closed a debt settlement that functions as a routine corporate action without injecting new cash into the company. The transaction settled debt with equity at $0.05 per share, a move dilutive to existing shareholders given the company’s negative book value per share of -$0.01. The reduction from the proposed $158,133 to the actual $101,033 suggests either a partial settlement or renegotiation, providing minimal relief to the company’s severe liquidity constraints. The company remains in a going concern status with a working capital deficit of over $573,000, showing no material positive impact on the balance sheet or operations.

Goldhills Holding Ltd. is a mineral exploration company with no operating revenue. Its flagship asset is the Lennac Lake Property in British Columbia, where the company holds an option to acquire a 100% interest and has secured a multi-year drilling permit. The company also holds a secondary asset, the Siguiri Gold Property in Guinea, which is currently impaired and inaccessible due to license issues. As a pre-revenue, exploration-stage entity, Goldhills Holding Ltd. relies entirely on equity and debt financing to sustain operations.