Baru Gold (TSE:BARU) has released an update.
Baru Gold Corp. has made a strategic move to address its debt by issuing up to 6,875,000 common shares, valued at $0.02 each, to settle $137,500 in management and director fees accrued from October 2022 to May 2024. The decision, which is pending TSX Venture Exchange approval and includes a four-month hold period for the securities, replaces a previously planned debt settlement of $157,500 through 7,875,000 shares. This transaction reflects Baru’s effort to streamline financials as it continues to develop gold resources in Indonesia.
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