Golden Age Announces Closing of Shares for Debt Transaction

Executive Summary

• Golden Age Exploration Ltd. closed a debt settlement by issuing 1,800,000 common shares at a deemed price of $0.07 per share to creditor entities owned by its directors.
• The issuance preserves cash for working capital and is subject to a four‑month hold period.
• The transaction qualifies as a related‑party transaction but is exempt from formal valuation and minority‑shareholder approval because the fair market value does not exceed $2,500,000.

Key Details

• Shares Issued: 1,800,000 common shares.
• Deemed Price: $0.07 per share (aggregate consideration of $126,000).
• Counterparties: Corporate entities owned and controlled by Golden Age’s directors (creditors).
• Purpose: Satisfy indebtedness while preserving cash for working capital needs.
• Hold Period: All shares subject to a four‑month hold period, expiring four months and one day after issuance date.
• Related Party Status: Transaction classified as a related‑party transaction under MI 61‑101; exempt from formal valuation and minority‑shareholder approval because the fair market value is below $2,500,000.
• Regulatory Filing: No material change report filed prior to closing due to timing of settlement details and expedited closure rationale.

Notable Quotes

“The Company determined to satisfy the indebtedness with common shares in order to preserve its cash for working capital.” – Tibor Gajdics, President

This release excludes boilerplate language, forward‑looking statements, and contact information.