September 29th, 2014 - Electra Gold Ltd. (TSXv: ELT) (the “Company” or “Electra Gold”) announces that the TSX Venture Exchange (the “Exchange”) has approved a debt settlement agreement of $1,218,953.20 by the issuance of 24,000,000 common shares.
Electra Gold entered into a Debt Settlement Agreement with each of the creditors to settle the debt through the issuance of 24,000,000 common shares. All of the shares issuable under the settlement agreement have been escrowed in accordance with Section 6.62 of Exchange Policy 5.4: Escrow, Vendor Consideration and Resale Restrictions.