Medgold Resources Corp. announced that it has received CAD 0.15 million in funding from Balkan Metals Corp.

Medgold Resources Corp. announced a private placement of convertible debentures for the gross proceeds of CAD 150,000 on January 30, 2023. The transaction will include participation from Balkan Metals Corp.

The Debenture matures in two years and has 5% interest rate and has a conversion price of CAD 0.05 if converted in the first year, and CAD 0.10 if converted in the second year. The Debenture and any shares issuable on conversion are subject to a regulatory resale restriction that expires on May 28, 2023.