Baru Gold Settles Debt with Equity Issuance

Baru Gold (TSE:BARU) has released an update.

Baru Gold Corp. has announced a shares for debt transaction to settle $157,500 of debt by issuing 7,875,000 common shares to its directors and officers at $0.02 per share, subject to TSX Venture Exchange approval. This transaction, involving insiders of the company, is considered a ‘related party transaction’ but is exempt from certain formal valuation and minority shareholder approval requirements.

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