MAGELLAN GOLD CORPORATION (OTCMKTS:MAGE) Files An 8-K Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
ITEM 2.03 CREATION OF A DIRECT FINANCIAL OBLIGATION OR AN

OBGLIATION UNDER AN OFF-BALANCE SHEET ARRANGEMENT OF A

REGISTRANT

On July 20, 2017, the Board of Directors of Magellan Gold Corporation, a Nevada corporation (the “Company”), approved a loan evidenced by a Promissory Note (the “Note”) to which the Company borrowed from John C. Power, its Chief Financial Officer and Director, the principal amount of $125,000. The effective date of the Note is June 30, 2017, which is due and payable on December 31, 2017. The Note is secured by a Stock Pledge Agreement covering the 2,750,000 shares of common stock and warrants to purchase an additional 2,750,000 shares of common stock of Rio Silver, Inc. which the Company purchased as part of its agreement with Rio Silver, previously reported. Copies of the Note and Stock Pledge Agreement are attached hereto as Exhibits 99.1 and 99.2.

ITEM 9.01FINANCIAL STATEMENTS AND EXHIBITS

MAGELLAN GOLD Corp Exhibit
EX-99.1 2 magellan_99ez1.htm PROMISSORY NOTE PROMISSORY NOTE  $125,…
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