2024 BARU Gold Announces Shares for Debt Transaction

May 24, 2024


Baru Gold Corp.'s board of directors has approved the settlement of up to $157,500 of debt through the issuance of common shares of the company. Pursuant to the Debt Settlement, the Company would issue up to 7,875,000 common shares of the Company (the "Shares") at a deemed price of $0.02 per Share to certain directors and officers of the Company (the "Creditors")

The Debt Settlement is for $157,500 in management and director fees from October 2022 to May 2024. The issuance of the common shares to the Creditor is subject to the approval of the TSX Venture Exchange. All securities issued will be subject to a four month hold period which will expire on the date that is four months and one day from the date of issue.

Insiders of the Company participation in the foregoing offering constitutes a "related party transaction" as defined under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ( "MI 61-101" ). Such participation is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of the securities acquired by the insiders, nor the consideration for the securities paid by such insiders, exceed 25% of the Company's market capitalization.


Baru Gold Corporation is a dynamic junior gold developer with NI 43-101 gold resources in Indonesia, one of the top ten gold producing countries in the world. Based in Indonesia and North America, Baru's team boasts extensive experience in starting and operating small-scale gold assets.

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