P2 Gold (TSE:PGLD) has released an update.
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P2 Gold has reached an agreement to settle $572,500 in shareholder loans by issuing 5,725,000 shares at $0.10 each, with these shares under a four-month hold period. This transaction is considered a ‘related party transaction’ but is exempt from certain regulatory requirements due to the value being less than 25% of the company’s market capitalization.
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