Item 3.02 Unregistered Sales of Equity Securities.

On December 15, 2008 Global Gold Corporation sold $350,000 in shares of common stock in a private placement, pursuant to exemptions from registration requirements of the Securities Act under Regulation D based upon representations and covenants provided by the respective purchasers. The transaction involved the issuance of three million five hundred thousand shares of common stock at $0.10 per share. Each share purchased shall also entitle the purchaser to a warrant for the purchase of an additional one share at the price per share of $0.15 exercisable on or before December 9, 2013, unless mutually agreed otherwise. The total offering is for up to ten million shares (the" Offering"). The sales were made with current shareholders Firebird Global Master Fund, Ltd., Firebird Republics Fund, Ltd., and Firebird Avrora Fund, Ltd. (www.fbird.com). The Offering will terminate upon the earlier of the completion of the sale of all of the Securities offered or December 31, 2008, unless the Offering is extended up to an additional 30 days until January 30, 2009 by the Company, in its sole discretion (the "Offering Period"). The Offering may be closed from time to time in tranches of any number of Securities (collectively the "Closings").