Attached files
| file | filename |
|---|---|
| EX-99.1 - Advantego Corp | v195251_ex99-1.htm |
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: August 20, 2010
Golden
Eagle International, Inc.
(Name of
registrant as specified in its charter)
|
Colorado
|
0-23726
|
84-1116515
|
|
State
of Incorporation
|
Commission
File Number
|
IRS
Employer Identification No.
|
9661 South 700 East,
Salt Lake
City,
Utah 84070
Address
of principal executive offices
801-619-9320
Telephone
number, including
Area
code
Not
applicable
Former
name or former address if changed since last report
Section
1 – Registrant’s Business and Operations
|
Item
1.01
|
Entry
into a Material Definitive
Agreement.
|
On August
20, 2010, Golden Eagle International, Inc. (“we,” “us” or “our”) entered into a
settlement agreement with Yukon-Nevada Gold Corp. and its subsidiary, Queenstake
Resources USA, Inc., to settle all claims in the lawsuit among the parties filed
in the Fourth Judicial District Court of Nevada, Elko County (Queenstake Resources USA, Inc. v.
Golden
Eagle International,
Inc. v. Yukon-Nevada Gold Corp, et al., CV-C-09-544). A stipulation among
the parties to dismiss the lawsuit with prejudice has been filed with the court
and each party will bear its own costs and attorneys’ fees.
Golden
Eagle expects to receive $3,467,152 in four payments over the next 120-day
period: $772,044, which was received on August 23, 2010; $1 million to be paid
on October 20, 2010; $1 million to be paid on November 20, 2010; and, $695,108
to be paid on December 20, 2010. Included in the total settlement are $272,000
to pay existing vendor invoices and $445,109 for employee severance and benefits
incurred by Golden Eagle while it operated the Jerritt Canyon mill under
contract with Queenstake.
The
settlement agreement also provides that Yukon-Nevada Gold Corp. will deliver 2
million shares of its issued and outstanding common stock to Golden Eagle on or
before October 20, 2010.
Golden
Eagle has not determined its intended use of the proceeds that it has received,
and expects to receive, from Yukon-Nevada Gold Corp beyond payment of its
accounts receivable and other current debts.
Section
8 – Other Events
|
Item
8.01
|
Other
Events.
|
We distributed a press release on
August 25, 2010 announcing and describing the settlement and dismissal of the
lawsuit covered above in Section 1, Item 1.01, which is attached as exhibit 99.1
to this Current Report.
Section
9 – Financial Statements and Exhibits
|
Item
9.01
|
Financial
Statements and Exhibits
|
|
(d)
|
Exhibits
|
|
99.1
|
Press
Release dated August 25, 2010.
|
SIGNATURES
Pursuant to the requirements of the
Securities Exchange Act of 1934, the registrant caused this report to be signed
on its behalf by the undersigned, thereunto duly authorized, on the 25th day of
August, 2010.
| Golden Eagle International, Inc. | |||
|
|
By:
|
/s/ Terry C. Turner | |
| Terry C. Turner, | |||
|
President
and Chief Executive Officer
|
|||