GGO Galleon Gold Corp

Greentree Gas & Oil Ltd. (TSX VENTURE:GGO) ("Greentree") is pleased to announce
a proposed non-brokered private placement of up to 4,848,485 flow-through shares
at a price of $0.165 per flow-through share (the "Flow-Through Shares, and
1,562,500 units priced at $0.16 per unit (the "Units") (collectively, the
"Offering"), for aggregate gross proceeds of $1,050,000. Each Unit will consist
of one Greentree common share and one-half (1/2) of a share purchase warrant
(the "Warrants"). Each whole Warrant entitles the holder to purchase one
Greentree common share at a price of $0.20 per common share for a period of two
years from closing.


All securities to be issued pursuant to the private placement will be subject to
a four (4) month hold period.


Greentree will pay finders fees of up to 10% on the gross proceeds of the
Offering and brokers warrants of up to 10% of the number of Flow-Through Shares
and Units sold pursuant to the Offering (each broker warrant entitling the
holder to purchase one common share at a price of $0.16 within two years after
the closing)


The net proceeds to Greentree from the Offering will be used to finance
exploration and development of oil and gas properties for expenses qualifying as
Canadian exploration expenses ("CEE") under the Income Tax Act (Canada) and
Canadian development expenses which qualify as CEE, and to finance the
evaluation of additional shallow oil properties, to rework and re-stimulate
existing producing wells, to enhance production and to reduce outstanding debt.


Completion of the Offering is subject to receipt of all required regulatory and
other approvals, including acceptance by the TSX Venture Exchange.


This press release shall not constitute an offer to sell or solicitation of an
offer to buy the securities in any jurisdiction. The flow-through common shares,
the common shares and the warrants underlying the Units will not be and have not
been registered under the United States Securities Act of 1933 and may not be
offered or sold in the United States absent registration or applicable exemption
from the registration requirements.


Greentree also announces the grant of stock options to the following officers
and directors: Duncan Hamilton, Gary Bean, Robert Down, Patrick O'Meara and
Donald Sheldon. Each was granted options to purchase 200,000 common shares
exercisable at $0.14 per share at any time on or before June 24, 2013.


Greentree Gas & Oil Ltd. is based in London, Ontario and is an explorer and
producer of oil and natural gas in southwestern Ontario. Greentree currently has
47,531,728 common shares outstanding.

Galleon Gold (TSXV:GGO)
Historical Stock Chart
Von Nov 2024 bis Dez 2024

Galleon Gold (TSXV:GGO)
Historical Stock Chart
Von Dez 2023 bis Dez 2024