Search Minerals Inc. Announces Settlement with Certain Creditors

Group 1 - Search Minerals Inc. has agreed to settle $100,000 of remaining debt through a combination of share issuance and cash payment [1] - The company will issue 203,688 common shares to Todd Burlingame and make a cash payment of $26,600 to Kee Scarp Ltd. [1] - The completion of the share issuance is subject to approval from the TSX Venture Exchange and will have a hold period of four months and one day [2] Group 2 - The share issuance and cash payment are part of a settlement agreement with creditors [1] - The company is required to comply with applicable securities legislation regarding the issuance of shares [2]