Gold Express Mines, Inc. - 03 Jan 2023 Form 3 Insider Report for MAGELLAN GOLD Corp (MAGE)

Role: 10%+ Owner
Signature: Gold Express Mines, Inc., By: /s/ John P. Ryan
Issuer symbol: MAGE
Transactions as of: 03 Jan 2023
Net transactions value: $0
Form type: 3
Filing time: 16 Jan 2024, 19:09:08 UTC
Next filing: 16 Jan 2024
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
holding	MAGE	Common Stock						5,000,000	03 Jan 2023	Direct	F1

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	John P. Ryan, Howard Crosby, James Czirr and Terrence Dunne are the four directors of the Reporting Person. Any action by the Reporting Person, including voting and dispositive decisions, requires a vote of three out of the four directors of the board of directors. Under the so-called "rule of three", because voting and dispositive decisions are made by three out of four directors of the board of directors, none of the directors is deemed to be a beneficial owner of shares held by the Reporting Person, even those in which he or she directly holds a pecuniary interest.

Content

John P. Ryan, Howard Crosby, James Czirr and Terrence Dunne are the four directors of the Reporting Person. Any action by the Reporting Person, including voting and dispositive decisions, requires a vote of three out of the four directors of the board of directors. Under the so-called "rule of three", because voting and dispositive decisions are made by three out of four directors of the board of directors, none of the directors is deemed to be a beneficial owner of shares held by the Reporting Person, even those in which he or she directly holds a pecuniary interest.