(TheNewswire)
November 13, 2023 – TheNewswire - Vancouver, BC - BaruGold Corp. ( TSXV:BARU ) | ( OTC:BARUF ) (“ Baru ” or the“Company”) announces that it has approvedthe settlement in the amount of $ 183,139.68 of debt through the issuance ofcommon shares of the Company (the “ Debt Settlement ”).Pursuant to the Debt Settlement, the Company would issue 6,104,656 commonshares of the Company at a deemed price of $0.03 per commonshare to Terrence Filbert, the Chairman and CEO of the Company (the“ Creditor” ).
The Debt Settlement is for $128,139.68 in cash advancesfrom Terrence Filbert to the Company from February 2023 to May 2023,and $55,000.00 in management fees from September 2022 to August 31,2023.
The issuance of the common shares to the Creditor issubject to the approval of the TSX Venture Exchange. All securitiesissued will be subject to a four month hold period which will expireon the date that is four months and one day from the date ofissue.
Insiders of the Company participation in the foregoingoffering constitutes a "related party transaction" asdefined under MultilateralInstrument 61-101 Protection of Minority Security Holders inSpecial Transactions ( “MI 61-101” ).Such participation is exempt from the formal valuation and minorityshareholder approval requirements of MI 61-101 as neither the fairmarket value of the securities acquired by the insiders, nor theconsideration for the securities paid by such insiders, exceed 25% ofthe Company's market capitalization.
The proposed settlement of $334,463.28 of debtthrough the issuance of 6,689,266 common shares as announced onSeptember 25, 2023 is hereby cancelled.
ABOUT BARU GOLD CORP.
Baru Gold Corporation is a dynamic junior gold developer with NI43-101 gold resources in Indonesia, one of the top ten gold producingcountries in the world. Based in Indonesia and North America, Baru’steam boasts extensive experience in starting and operating small-scalegold assets.
BARU GOLD CORP
Per: “Terrence Filbert”
Terrence Filbert, Director
President & CEO
info@barugold.com
For investor contacts more information, please contact:
Kevin Shum
Investor Relations
kevin@jeminicapital.com
647-725-3888 ext 702
Neither TSXVenture Exchange nor its Regulation Services Provider (as that term isdefined in the policies of the TSX Venture Exchange) acceptsresponsibility for the adequacy or accuracy of this release.
Cert a in st a t e me n ts in t h is News R ele as e, w h ich a re no t h ist o ric a l in na t u re, c on stit u te “f o r w a rd l oo ki ng st a teme n ts” wit h in t h e m ean i n g o f t ha t ph r a se und er app lic ab le C anad i a n sec u rities l a w. T h ese st a teme nt s i n cl ud e, bu t a re no t limited t o , st a te m e n ts o r i n f or m a ti o n c on cer n i n g f u t u re w o rk p r og r a ms, r es u lts a nd timi n g o f an y w o rk p r og r a ms, t h e C o m p an y’s p erf or m an ce o r e v en ts a s o f t h e da te h ere o f. T h ese st a te m e n ts reflect m anag eme n t’s c ur re n t a ss u m p ti on s a n d ex p ect a ti on s an d b y t h eir na t u re a re s ub ject to cert a in und erlyi n g a ss u m p ti on s, kno wn an d un k no wn risks an d un cert a i n ties an d o t h er f a ct o rs w h ich m a y c aus e a ct ua l res u lts, p erf o rm an ce o r eve n ts to b e m a teri a l ly d iffere n t fr o m t ho se ex p res s ed o r im p lied b y s u ch f o rw a rd l oo k i n g st a teme n ts. T ho se risks i n cl ud e t h e i n ter p ret a ti o n o f d rill res u lts; t h e g e o l o g y, g r ad e a n d c on ti nu ity o f mi n er a l d e p o sits; t h e po ssi b ility t ha t f u t u re ex p l o r a ti on , d evel op me n t o r mi n i n g res u lts will not b e c on siste n t with ou r ex p e ct a ti on s; c o m m od ity a n d c u rre n cy p rice fl u ct ua t i on ; f a il u re to ob ta in a d e quat e fi nan ci n g ; re gu l a t o ry, rec o very r a t e s, refi n ery c o sts, an d o t h er relev an t c on versi o n f a ct o rs, p ermitti n g a n d lice n si n g ris k s; g e n er a l ma rket an d mi n i n g ex p l o r a t i o n risks an d p r odu cti o n a n d ec ono mic risks rel a ted to d esi g n a n d e ng i n eeri ng , m anu f a ct u ri n g , tec hno l og i c a l p r o cesses an d test p r o ce du res an d t h e risk t ha t t he p r o ject’s ou t pu t will no t b e s a l ab le a t a p rice t ha t w i ll c o ver t h e p r o ject’s op e ra ti n g a n d m a i n te nan ce c o sts. F o rw a r d -l o o ki n g st a teme n ts s hou l d n o t b e c o n str u ed a s i n vestme n t ad vice. Re ad ers s hou ld p erf o rm a d et a ile d , i nd e p e nd e n t i n vesti ga ti o n an d ana lysis o f t h e C o m pan y a n d a re e n c ou r ag ed to se e k i nd e p e nd e nt p r o fessi ona l ad vice b ef o re m a ki n g an y i n vestme n t de cisi on . Acc ord i ng ly, re ad ers s hou ld no t p l a ce und u e reli an ce o n a n y f o rw a rd-l o o ki n g st a teme n t. Exce p t a s re qu ired b y app lic ab le sec u rities l a ws, t h e C o m pan y d iscl a ims an y ob l i ga ti o n to up d a te o r revise an y f o rw a rd l oo ki n g s t a teme n ts to reflect e v e n ts o r c hang es i n circ u mst an c e s t ha t o cc u r a fter t h e da te h ere o f.
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