Galleon Gold Announces Results of Annual and Special Meeting of Shareholders
Rhea-AI Summary
Galleon Gold (OTCQX:GGOXF) reported that all resolutions at its May 20, 2026 Annual and Special Meeting were approved. Shareholders elected six directors, while Gerhard Merkel moved to an advisory role. Disinterested shareholders approved a Control Person Resolution tied to up to 27,152,777 shares for Pan American Silver.
Shareholders also re-appointed Grant Thornton as auditor, continued the stock option plan, and the company plans to attend the Canadian Mining Expo in Timmins on June 10–11, 2026.
Positive
- All meeting resolutions approved at May 20, 2026 shareholder meeting
- Control Person Resolution passed with 99.8% of disinterested votes in favour
- Approval for potential issuance of up to 27,152,777 common shares
- Grant Thornton re-appointed as independent auditor
- Stock option plan continuation approved by shareholders
Negative
- Potential dilution from issuance of up to 27,152,777 new common shares
- Creation of a new control person may concentrate shareholder influence
News Market Reaction – GGOXF
In the May 21 session, GGOXF gained 0.04%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Toronto, Ontario--(Newsfile Corp. - May 20, 2026) - Galleon Gold Corp. (TSXV: GGO) (OTCQX: GGOXF) (FSE: 3H90) (the "Company" or "Galleon Gold") is pleased to announce that all resolutions presented at the Annual and Special Meeting of Shareholders (the "Meeting") held on May 20, 2026, were duly approved by shareholders.
At the Meeting, shareholders elected the following directors to serve for the ensuing year: R. David Russell, Thomas Kofman, James T. O'Neil Jr., Mario Colantonio, Michael Hobart and Richard F. Nanna.
Mr. Gerhard Merkel did not stand for re-election and will transition to an advisory role with the Board of Directors. The Board would like to thank Mr. Merkel for his many years of dedicated service and valuable contributions as a director of the Company.
At the Meeting, disinterested shareholders were asked to consider an ordinary resolution approving the potential issuance of up to 27,152,777 common shares on the exercise or conversion of certain warrants and a convertible debenture held by Pan American Silver Corp. ("Pan American") which would result in the creation of a new Control Person (the "Control Person Resolution"). Of the votes cast at the Meeting in person or by proxy by disinterested shareholders,
Shareholders also approved resolutions to re-appoint Grant Thornton LLP as independent auditors of the Company and for the continuation of the Company's stock option plan.
Canadian Mining Expo in Timmins
The Company will be attending the Canadian Mining Expo (CME) in Timmins, Ontario from June 10 to June 11, 2026, at the McIntyre Complex. Please drop by the booth if you are attending the conference.
About Galleon Gold
Galleon Gold is advancing the West Cache Gold Project with a disciplined, de-risking strategy centered on resource growth and an upcoming 86,500-tonne bulk sample program, positioning the Company to unlock long-term shareholder value.
For further information:
Galleon Gold
R. David Russell
Chairman and CEO
T. (416) 644-0066
info@galleongold.com
Graham Farrell
Investor Relations
T. (416) 842-9003
grahamfarrell@galleongold.com
Forward-Looking Statements
This news release contains certain "forward looking statements", as defined under applicable Canadian securities laws, that reflect the current views and/or expectations of Galleon Gold with respect to its long-term strategy, financing plans, proposed work, plans, bulk sample program and other reports including the PEA for its projects. Forward-looking statements are based on the then-current expectations, beliefs, assumptions, estimates and forecasts about the business and the markets in which Galleon Gold operates. Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Without limitation, statements regarding the use of the proceeds of from the Facility, the sufficiency of funds to complete and the completion of the potential mineralization and resources, exploration results, expectations, plans, and objectives of Galleon Gold are forward-looking statements that involve various risks. The following are important factors that could cause Galleon Gold's actual results to differ materially from those expressed or implied by such forward-looking statements: changes in the world-wide price of mineral commodities, general market conditions and uncertainty of access to additional capital, risks inherent in mineral exploration, delays in the receipt of government approvals, risks associated with development, construction, mining operations and third party contractor activities, risks related to unanticipated events related to health, safety and environmental matters. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events may differ materially from those anticipated in such statements. Galleon Gold undertakes no obligation to update such forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on such forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/298221