GOLDRICH MINING COMPANY (OTCMKTS:GRMC) Files An 8-K Unregistered Sales of Equity SecuritiesItem 3.02
Unregistered Sale of Equity Securities.
On June 25, 2018, Goldrich Mining Company (the “Registrant”) granted 1,850,000 shares of Common Stock from the Company’s Stock Incentive Plan in consideration of deferrals of salaries and fees to the Chief Executive Officer and Chief Financial Officer and to a manager for services rendered during recent periods while cash payments for services have been restricted due to the Company laboring under financial hardship. In addition, directors were given the choice to elect to receive shares in lieu of payment in cash for director fees. Six of seven independent directors elected to do so and a total payment of 3,292,292 shares of the Company’s Common stock, valued at the 20-day Volume Weighted Average Price of $0.028 per share, in lieu of cash were paid. No cash was raised for any shares granted and issued, but the Company was relieved of $91,298 of liabilities for director fees.
About GOLDRICH MINING COMPANY (OTCMKTS:GRMC)
Goldrich Mining Company is an exploration-stage minerals company. The Company is engaged in the business of acquiring and advancing mineral properties to the discovery points. The Company’s mineral exploration prospects are contained within its Chandalar property, located approximately 190 air miles north of Fairbanks, Alaska and over 40 air miles east of the Dalton Highway. The Chandalar property contains both the Company’s Chandalar hard-rock (lode) gold project and the Little Squaw Creek alluvial gold mine. The Company has completed approximately 15,000 feet of drilling on the upper half of the Little Squaw Creek placer project and outlined over 10.5 million cubic yards of mineralized material, at an average head grade of over 0.025 ounces of gold per cubic yard for an estimated total of approximately 250,000 contained ounces. The Company’s Chandalar property is approximately 22,860 acres, consisting of patented federal mining claims and unpatented State of Alaska mining claims.