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Golden Age Exploration Ltd. ( (TSE:GDN) ) just unveiled an announcement.
Golden Age Exploration Ltd. has entered into shares-for-debt agreements to settle C$126,000 owed to certain creditors, all of whom are company directors, by issuing 1.8 million common shares at a deemed price of C$0.07 per share, subject to exchange approval and a four-month hold period. The transaction, structured to conserve cash for working capital, qualifies as a related-party deal under securities rules but is exempt from formal valuation and minority approval requirements due to its size, and coincides with a leadership change as Kevin Hanson steps down as CEO and president while remaining a director, with director Tibor Gajdics assuming the role of president, signaling a strategic effort to stabilize finances and refresh management oversight.
More about Golden Age Exploration Ltd.
Golden Age Exploration Ltd., listed on the Canadian Securities Exchange under the symbol GDN, operates in the mineral exploration sector. The company focuses on advancing its exploration-stage assets while managing its capital structure to support ongoing working capital needs.
Average Trading Volume: 184,482
Technical Sentiment Signal: Sell
For detailed information about GDN stock, go to TipRanks’ Stock Analysis page.