Search Minerals Announces Shares-for-Debt Transaction

Core Points - Search Minerals Inc. has entered into a Shares-for-Debt Transaction with LeadFX Inc. to settle $404,053.73 of outstanding debt by issuing 808,107 common shares at a deemed price of $0.50 per share [1][2] - The transaction aims to preserve cash and strengthen the company's balance sheet, with shares subject to a four-month hold period [2] - LeadFX Inc. is a related party, making this a related party transaction under Multilateral Instrument 61-101 [3] - The company is relying on exemptions from formal valuation and minority shareholder approval requirements as the fair market value of the shares does not exceed 25% of the company's market capitalization [4] - Completion of the transaction is subject to approval from the TSX Venture Exchange [5] Company Overview - Search Minerals focuses on exploring and developing Critical Rare Earth Elements (CREE) and transition metals such as Zirconium and Hafnium in the Port Hope Simpson - St. Lewis CREE District of South-East Labrador [5] - The company controls two deposits (Foxtrot and Deep Fox), two drill-ready prospects (Fox Meadow and Silver Fox), and several other CREE prospects along a 64-kilometer belt [5] - Additionally, Search Minerals holds CREE assets in the Red Wine CREE District, including the drill-ready Two Tom Lake CREE-Be-Nb deposit and other prospects [6]