Millennium Silver Corp. Announces Shares for Debt Transaction

Core Viewpoint - Millennium Silver Corp. has entered into shares for debt agreements to settle $337,622 in debt owed to various creditors, aiming to preserve cash for working capital [1][2]. Debt Settlement Details - The Company will issue 22,508,132 common shares at a deemed price of $0.015 per share to creditors, which includes $190,375 owed to directors and officers, $122,247 owed to a firm associated with the CFO, and $25,000 owed to a family trust related to the former CEO [2]. - The issuance of shares is subject to approval from the Exchange and will have a four-month hold period from the date of issue [3]. Related Party Transaction - The Debt Settlement involves certain insiders, qualifying it as a "related party transaction" under Multilateral Instrument 61-101. The Company will rely on exemptions from valuation and minority approval requirements, as the transaction does not exceed 25% of the Company's market capitalization [4]. - Independent directors have assessed the transaction and deemed the fair market value of the securities issued to insiders as reasonable [4]. Company Overview - Millennium Silver Corp. focuses on the exploration and development of its projects in Nevada and trades on the TSX Venture Exchange under the symbol MSC [5].