Magellan Gold Corporation (OTCQB: MAGE) (“Magellan” or “the Company”) announced that it has agreed with John Gibbs, the principal lender to the Company under a Credit Agreement, to permit Mr. Gibbs to convert an aggregate of $80,000 in outstanding principal due under the Credit Agreement into 5.0 million shares of Common Stock. The conversion price of $0.016 per share was the closing price of the Common Stock on the OTCQB on May 16, 2018.
About Magellan Gold Corporation
Magellan Gold Corporation (OTCQB: MAGE) is a US public enterprise focused on the exploration and development of precious metals. In November 2017 Magellan completed the purchase of the SDA Mill in the State of Nayarit, Mexico. Magellan also owns an advanced silver exploration property located in Arizona.
To learn more about Magellan Gold Corporation, visit www.magellangoldcorp.com.
Magellan Gold Corporation
Pierce Carson: (505) 463-9223
John Power: (707) 884-3766
Peter Nesveda (INT IR): +61 4 1235 7375