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 June 15, 2017, the Board of Directors of Magellan Gold
Corporation, a Nevada corporation (the Company), approved three
loans evidenced by Promissory Notes (the Notes) to which the
Company borrowed from its President, W. Pierce Carson, the
principal amount of $25,000, and from John C. Power, its Chief
Financial Officer, the principal amount of $25,000 and from John
Gibbs, an investor, the principal amount of $100,000. The Notes
are unsecured and are due and payable, together with interest at
the rate of 6.00% per annum, on November 15, 2017. Copies of the
Notes are attached hereto as Exhibits 99.1 through 99.3.
ITEM 8.01
OTHER EVENTS
On June 16, 2017, the Company executed and delivered a Consulting
Agreement (the Agreement) between the Company and Bright Star
International, Inc. (Bright Star) to which Bright Star has been
engaged by the Company to provide the specific consulting
services set forth in the Agreement. A copy of the Agreement is
attached hereto as Exhibit 10.1.
ITEM 9.01
FINANCIAL STATEMENTS AND EXHIBITS
|
Item |
Title |
|
10.1 |
Consulting Agreement |
|
99.1 |
Promissory Note in favor of W. Pierce Carson |
|
99.2 |
Promissory Note in favor of John Power |
|
99.3 |
Promissory Note in favor of John Gibbs |
MAGELLAN GOLD Corp ExhibitEX-10.1 2 magellan_10ez1.htm CONSULTING AGREEMENT Converted by EDGARwiz CONSULTING AGREEMENT This Consulting Agreement (the "Agreement"),…To view the full exhibit click here
