Global Gold Corporation - International Gold Mining, Development and Exploration in Armenia and Chile

Global Gold Corporation Announces Ratification of Confidential Term Sheet for Conditional Financing and Reverse Split of Shares

Global Gold Corporation (OTCQB:GBGD (“Global Gold” or the “Company”) announced the December 28, 2023, board ratification of a confidential term sheet signed on December 20, 2023 and effective December 19, 2023 with a European Company to conditionally provide a $250,000 advance on or before January 15, 2024, followed by a $1.75 million investment. The use of proceeds is to advance projects in Armenia and corporate purposes. The conditions include a reverse split of the Company’s shares on a 1,000 for 1 basis, and the board has set the record date for the split as December 20, 2023, with the effective date for the amended certificate of incorporation assuming shareholder approval anticipated for January 22, 2024. If the Company does not meet its conditions, the $250,000 advance will convert to a loan at 9% payable by October 30, 2024, and the commitment for the $1.75 million investment is not obligated. Pursuant to the Company’s bylaws, fractional shares will not be issued. Shareholders owning less than 1,000 shares as of the record date would be entitled to a cash payment upon surrender of shares and qualification on or before June 1, 2025. If approved, the Company’s total authorized shares will be 1,000.

Forward-Looking Statements
This press release includes "forward-looking statements." Any statements contained herein that are not statements of historical fact may be deemed to be forward-looking statements. In addition, any statements that refer to other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "intends," "may," "might," "plan," "possible," "potential," "predict," "project," "should," "would" and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results and, consequently, you should not rely on these forward-looking statements as predictions of future events. These forward-looking statements and factors that may cause such differences include, without limitation, future capital requirements, regulatory actions or delays and other factors that may cause actual results to be materially different from those described or anticipated by these forward-looking statements. The foregoing list of factors is not exclusive. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.

Global Gold Corporation
International Corporate Center at Rye
555 Theodore Fremd Avenue, Suite C208
Rye, New York 10580
Tel: 914-925-0020
Fax: 914-925-8860

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