GDV Resources Inc. Issues Shares for Debt
February 18 2011 - 1:50PM
Marketwired
GDV Resources Inc. (TSX VENTURE: GDV.H) (the "Company") announces
that pursuant to a resolution passed by disinterested shareholders
on November 24, 2010 the Company has issued 2,477,000 common shares
at a price of $0.05 per share to settle debt in the amount of
$123,850. This amount includes 1,500,000 shares to settle $75,000
due to GC-Global Capital Corp., a related party as a result of
common officers and share ownership, 525,000 shares to settle
$26,250 due to Chris Carmichael, the Company's former Chief
Financial Officer and Director and 452,000 shares to settle $22,600
due to a company controlled by Gordon Ewart, the Company's Chief
Executive Officer. Subsequent to the issuance of shares the
parties' ownership percentages will be 49.9%, 10.95% and 7.45%
respectively. The shares issued will be subject to a four-month
hold period expiring June 18, 2011.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: GDV Resources Inc. Mr. Andrew Hilton CFO (416)
488-7760
Cardinal Capital Partners, Inc. (TSXV:GDV.H)
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