Galleon Gold Corp announced a non-brokered private placement to issue 140 Unsecured Convertible Debentures at a price of CAD 50,000 per debenture for aggregate gross proceeds of CAD 7,000,000 on July 2, 2025. The Debentures will have a term of 36 months from the date of issuance, bear interest at a rate of 8% per annum payable in cash or Common Shares at the option of the investor at the end of the Term and be convertible into common shares of the Company at a conversion price of CAD 0.30 per share. The company will pay Finder's fees consisting of a 6% cash commission and 6% non-transferrable finders' warrants in connection with the offering.
Each finder warrant entitles the holder to acquire one Common Share at a price of CAD 0.36 per share over a two-year period. The transaction is expected to close by July 9, 2025. The Debentures, finders warrants and underlying Common Shares, will be subject to a hold period of four months and one day in accordance with applicable securities laws.
The Offering is subject to the acceptance of the TSX Venture Exchange. The transaction will include participation from Eric Sprott and Management.
