Shield Gold Inc. Announces Debt Settlement Agreements
19.07.2013 | Newsfile
Toronto, July 19, 2013 - Shield Gold Inc. (TSXV: SHG) ("Shield" or the "Company") wishes to announce that it has entered into agreements to settle a total of $185,780.00 of debt (the "Debt") with arm's-length and non-arm's-length parties to the Company (collectively the "Shares for Debt Settlement").The Debt payable to the arm's-length parties totals $42,940.00 and that to non-arm's-length parties totals $142,840.00. The Company will settle these debts, subject to regulatory approval, by issuing an aggregate of 2,745,667 common shares at an average deemed price of $0.068 per share. All securities to be issued will be subject to a hold period of four months plus one day. The Company will have 29,783,476 shares outstanding (35,633,940 fully diluted) after completion of the Shares for Debt Settlement transaction.
About Shield Gold Inc.: Shield is a junior exploration company whose mission is the discovery and development of high quality precious metal, base metal and mineral resources. The Company's graphite exploration programs are located in the Buckingham and Lochaber Townships of southwestern Québec. The Company has also entered into an option and joint venture agreement with Eloro Resources Inc. on the Summit-Gaber property in the La Grande Greenstone Belt in the James Bay region of Québec.
Further information regarding Shield can be found on the Company's website at: www.shieldgold.com.
For more information, please contact:
Shield Gold Inc.
Paul A. Gorman, CEO
Tel.: 416-768-6101
Email: paulgorman70@gmail.com
Paul R. Ankcorn, CFO
Tel: 416-414-9171
E-mail: pankcorn@bellnet.ca
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.