Sylla Gold Announces Closing of Debt Settlement

Core Viewpoint - Sylla Gold Corp. has settled $374,580 of debt by issuing 6,243,000 common shares at a price of $0.06 per share, aimed at improving its financial position [1][2]. Group 1: Debt Settlement Details - The debt settlement involved the issuance of 6,243,000 common shares at $0.06 each, totaling $374,580 [1]. - The shares issued will be subject to a hold period of four months plus a day from the issuance date [1]. - The transaction is classified as a "related party transaction," with insiders receiving 3,457,000 common shares [2]. Group 2: Regulatory Compliance - The company is relying on exemptions from certain requirements of Multilateral Instrument 61-101 due to its financial difficulties [2]. - No material change report was filed 21 days prior to the debt settlement, which the company considers reasonable [2]. - The debt settlement was approved by independent board members, excluding two directors [3].