Gitennes Exploration (TSE:GIT) has released an update.
Gitennes Exploration Inc. has successfully completed a share issuance for debt settlement, issuing 1,650,000 shares to settle $82,500 in debt with senior officers owning the creditor companies. This internal transaction is seen as a ‘related party transaction’ and is accompanied by a twelve-month hold period for the new shares. Additionally, Mr. Booth’s stake in the company increased significantly to 10.25% through the acquisition of 750,000 shares.
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