Barranco Gold Mining Clears $170,000 Debt Through Share Issuance

The transaction involves the spouse of Reno Calabrigo, the company's CEO and director, classifying it as a related-party deal under Multilateral Instrument 61-101. Shares were issued at a price of $0.88 each. Because the transaction represents less than 25% of the company's market capitalization, Barranco avoided the requirement for a formal valuation or minority shareholder approval. All securities issued remain subject to a statutory four-month hold period.

Management opted for an expedited closing to maintain working capital, bypassing the typical 21-day material change reporting window. Calabrigo recused himself from board deliberations regarding the settlement, which were handled by the remaining directors. The company currently focuses on exploration at its King Property in the Nicola and Similkameen Mining Divisions.