GDV Resources Inc. Issues Shares for Debt
GDV Resources Inc. announces that pursuant to a resolution passed by disinterested shareholders on November 24, 2010 the Company has issued 2,477,000 common shares at a price of $0.05 per share to settle debt in the amount of $123,850. This amount includes 1,500,000 shares to settle $75,000 due to GC-Global Capital Corp., a related party as a result of common officers and share ownership, 525,000 shares to settle $26,250 due to Chris Carmichael, the Company’s former Chief Financial Officer and Director and 452,000 shares to settle $22,600 due to a company controlled by Gordon Ewart, the Company’s Chief Executive Officer. Subsequent to the issuance of shares the parties’ ownership percentages will be 49.9%, 10.95% and 7.45% respectively. The shares issued will be subject to a four-month hold period expiring June 18, 2011.
