Attached files
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON, D.C.
20549
FORM
8-K
CURRENT
REPORT
PURSUANT
TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934
Date
of Report (Date of earliest event reported) February 25, 2010
Global
Gold Corporation
(Exact
name of registrant as specified in its charter)
|
Delaware
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02-69494
|
13-3025550
|
|
(State
or other jurisdiction
|
(Commission
|
(IRS
|
|
of
incorporation)
|
File
Number)
|
Identification
No.)
|
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45
East Putnam Avenue, Greenwich, CT
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06830
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|
(Address
of principal executive offices)
|
(Zip
Code)
|
Registrant's
telephone number, including area code (203) 422-2300
(Former
name or former address, if changed since last report)
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions (see General Instruction A.2. below):
[
] Written communications pursuant to Rule 425 under the Securities Act (17
CFR 230.425)
[ ]
Soliciting material pursuant to Rule 14a-12 under the Exchange Act(17 CFR
240.14a-12)
[
] Pre-commencement communications pursuant to Rule 14d-2(b) under
the Exchange Act (17 CFR 240.14d-2(b))
[
] Pre-commencement communications pursuant to Rule 133-4(c) under
the Exchange Act (17 CFR 240.13e-4(c))
Item
1.01 Entry into a Material Definitive Agreement.
On
February 25, 2010, Global Gold Corporation (the "Company" or "Global Gold")
through its wholly owned subsidiary Mego Gold, LLC (“Mego”) entered into an
agreement with Industrial Minerals, SA (“IM”) to provide Mego with an advance of
$450,000 from IM against future sales of gold and silver concentrate (the
“Advance”).
The advance was
provided by IM on February 26, 2010.
Key terms
include; that Mego provides IM with an exclusive off-take agreement for its gold
and silver concentrate in Armenia through December 31, 2012; for 2009 and until
February 25, 2010, the price IM paid Mego for gold and silver concentrate was
calculated based on 85% of the London AM/PM Gold Fixation and London Silver Spot
(“London Rates”), until Mego delivers 2,250 metric tons of concentrate the 85%
is reduced to 80%, after 2,250 metric tons have been delivered the price will
revert to 85% of London Rates; Mego provides IM with a security interest in its
current ore stockpile in Armenia; and the Company provides for a corporate
guarantee for repayment of the Advance, all as further described in exhibits
10.3, 10.4 and 10.5 below.
Item
9.01 Exhibits
Exhibit
No. Description
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10.3
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Material
Contract – Mego Gold, LLC Gold Concentrate Supply Contract with Industrial
Minerals SA dated as of February 25,
2010.
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10.4
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Material
Contract – Mego Gold, LLC Security Agreement with Industrial Minerals SA
dated as of February 25, 2010.
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|
10.5
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Material
Contract – Global Gold Corporation Guarantee to Industrial Minerals SA
dated as of February 25,
2010.
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SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
| Dated: March 1, 2010 | Global Gold Corporation | ||
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By:
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/s/ Van Z. Krikorian | |
| Name: | Van Z. Krikorian | ||
| Title: | Chairman and Chief Executive Officer | ||