Global Gold – International Arbitration Issues Final Award, Granting Over $10.8 Million Damages and Additional Relief in Favor of Global Gold Against Caldera Resources Related to Marjan Gold Mine in Armenia $3 Million in Compensatory Damages and $1 Million in Punitives Based on Vasilios Bill Mavridis Defamatory Publications Against Global Gold and Its Principals (November 13th, 2014)
RYE, N.Y., Nov. 12, 2014 (GLOBE NEWSWIRE) -- Global Gold Corporation (OTCQB:GBGD) is pleased to announce that in an International Centre for Dispute Resolution Final Award Retired Justice Herman Cahn as the sole arbitrator ruled in favor of Global Gold on damages and a range of other outstanding issues. The total damage award is $10,844,413 with interest at 9% and penalties continuing to accrue if Caldera does not comply with the equitable relief granted. Of the total damage award, $3 million is compensation and $1 million is punitive damages for the defamatory publications by Caldera's principal Vasilios Bill Mavridis against Global Gold and its principals. This Final Award terminates the arbitration proceedings which Caldera instituted against Global Gold in 2010. Global Gold prevailed in the first, liability phase of the arbitration and four prior court cases, as summarized and reported in April 2013. Global Gold again thanks outside counsel Brian Cousin and his team at Dentons www
Global Gold – Formal Merger & Share Sale Agreement (November 22nd, 2013)
Global Gold – Heads of Agreement Global Signature Gold Merger of Ggcrl Mining Llc and Signature Gold Ltd (September 10th, 2013)
(b) The Company legally and beneficially holds all the shares of Mego Gold LLC (Mego) and Getik Mining Co LLC (Getik) (each a Delaware Corporation).
Global Gold – Action by Written Consent of the Sole Member of Ggcr Mining, Llc (February 23rd, 2012)
Pursuant to Section 18-302(d) of the Delaware Limited Liability Company Act, the undersigned, constituting the sole member of GGCR Mining, LLC, a Delaware Limited Liability Company (the "Company"), hereby consents to and adopts the following resolutions:
Global Gold – Global Gold Consolidated Resources Limited Registered Company No 109058 (The Company) (February 23rd, 2012)
By signing these resolutions, each of the directors confirms that they have disclosed to the Company all direct or indirect interests which they have in the transaction and documents to be approved under these resolutions which materially conflict or may conflict with the interests of the Company in accordance with article 75 of the Companies (Jersey) Law 1991 and the articles of association of the Company.
Global Gold – Supplemental Letter (February 23rd, 2012)
Reference is hereby made to the Joint Venture Agreement (the "JV Agreement"), dated as of April 27, 2011, by and between (1) Global Gold Corporation, a Delaware corporation ("GGC"), its wholly owned subsidiary Global Gold Armenia, LLC, a Delaware limited liability company ("GGA"), the latter's wholly owned subsidiary, Global Gold Mining LLC, a Delaware limited liability company ("GGM"), and the latter's wholly owned subsidiaries Mego-Gold, LLC ("MG"), and Getik Mining Company, LLC ("GMC"), Armenian limited liability companies, and (2) Consolidated Resources Armenia, an exempt non-resident Cayman Islands company ("CRA") and its affiliate Consolidated Resources USA, LLC, a Delaware limited liability company ("CRU"). Capitalized terms used herein but not defined herein shall have those meanings ascribed to them in the JV Agreement.
Global Gold – Contract (February 9th, 2012)
Global Gold – Joint Membership Interest Purchase Agreement (December 7th, 2011)
Global Gold – Joint Venture Agreement (May 2nd, 2011)
Global Gold Corporation ("GGC"), a Delaware corporation; its wholly owned subsidiary Global Gold Armenia, LLC ("GGA"), a Delaware limited liability company; the latter's wholly owned subsidiary, Global Gold Mining LLC ("GGM"), a Delaware limited liability company; and the latter's wholly owned subsidiaries Mego-Gold, LLC ("MG"), and Getik Mining Company, LLC ("GMC"), Armenian limited liability companies, (hereinafter all collectively referred to as "GG"), on the one side;
Global Gold – Consolidated Resources Usa, Llc -- Global Gold Corporation Agreement for Formation of Joint Venture to Develop Properties (March 21st, 2011)
This Agreement made as of March 17, 2011 sets out the terms of cooperation and creation of a joint venture to develop two mining properties in Armenia between (i) Global Gold Corporation, a Delaware corporation ("GGC") and the parent of Global Gold Armenia, LLC a Delaware limited liability company ("GGA") which is the parent of Global Gold Mining, LLC, a Delaware limited liability company ("GGM"") which limited liability companies, directly or indirectly, own all of GGC's interests, including mining rights, licenses and permits, in respect of the Toukhmanuk (through Mego-Gold, LLC an Armenian limited liability company("MGC")) and Getik (through the Getik Mining Company, LLC an Armenian limited liability company ("GMC")) properties in Armenia (See Annual Report on Form 10-K filed with the SEC on April 15, 2010 and subsequent filings and information available on the Company's website for description of properties (hereinafter, "Toukhmanuk" and "Getik" and collectively, the "Properties")
Global Gold – October 22, 2010 Ian Hague Nicholas J. Aynilian 60 Broadway 381 Broadway, 2nd Floor Apartment 11A Westwood, NJ 07675 Brooklyn, NY 11211 Drury J.Gallagher 107 Eakins Road Manhasset, NY 11030 (October 22nd, 2010)
On October 19, 2010, the non-interested directors decided for a variety of reasons that it was in the best interests of Global Gold Corporation to offer you the right to convert your outstanding loans to the company into shares of common stock at a conversion price of 15 cents per share, if the conversion could be done on an expedited basis. Each of you has indicated agreement with these terms and that you would convert your loans to shares on that basis as of today. This agreement confirms those conversions and the cancellation of your loan agreements, with the exception of Ian Hague's continuing royalty rights in the Valdivia, Chile property.
Global Gold – Contract (May 19th, 2009)
Following up on our discussions, this letter confirms the terms on which you are providing an emergency loan of $550,000 ($500,000 from Ian Hague and $50,000 from Nick Aynilian) to Global Gold Corporation (the "Company") to cover current and overdue license fees, taxes, utilities necessary to resume production, rent, overhead, and some other partial payments. Accordingly, each of you, in your personal capacities only and not acting on behalf of any other person or entity, hereby promise to make short-term personal loans in the total amount of $550,000 ($500,000 from Ian Hague and $50,000 from Nick Aynilian) (the "Loans"), to the Company which Loans shall accrue interest, from the day they are issued by you and until the day they are repaid by the Company, at an annual rate of 10% (the "Interest").
Global Gold – Global Gold Corporation 45 East Putnam Avenue, Suite 118 Greenwich, Ct 06830 (August 4th, 2008)
This letter sets forth the terms of the sale of Global Gold Corporations (the Company) Chilean mining assets to Madre Gold LLC, a Delaware limited liability company (Newco) to be formed and funded by yourselves and your co-investors listed on Schedule A, with each such additional Investor, if any, executing a counterpart of this letter (the Investors).