GGO Galleon Gold Corp

Attention Business Editors:

Greentree Gas & Oil Ltd. (TSX VENTURE:GGO) ("Greentree") is pleased to announce
the completion of its previously-announced proposed non-brokered private
placement of flow-through shares.  Greentree has issued 4,848,485 flow-through
shares at a price of $0.165 per flow-through share (the "Flow-Through Shares")
for gross proceeds of $800,000.  All securities issued pursuant to the private
placement are subject to a four (4) month hold period.


Greentree paid finders fees of $80,000 on the gross proceeds of the Flow-Through
Shares and has issued 80,000 brokers warrants (each broker warrant entitling the
holder to purchase one common share at a price of $0.16 until June 26, 2010).


The net proceeds to Greentree from the Flow-Through Shares 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.


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
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 Gas & Oil Ltd. is based in London, Ontario and is an explorer and
producer of oil and natural gas in southwestern Ontario.  Greentree now has
52,474,963 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