Galleon Gold Corp. is pleased to announce that
Pan American Silver Corp. has entered into a strategic investment agreement on a non-brokered private placement basis for an unsecured convertible debt financing for gross proceeds of C$8,000,000 . In connection with the Transaction, the Company also announces that it has entered into a memorandum of understanding with
Lake Shore Gold Corp. , a wholly-owned subsidiary of Pan American, for toll processing of mineralized materials from the Company's planned 86,500-tonne bulk sample at its 100% owned West Cache Gold Project in Timmins, Ontario . The Debenture The Debenture has a term of 36 months from the date of issuance, bears interest at a rate of 10.0% per annum, payable in cash or common shares of the ...