Debt Settlement
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A.I.S. Resources Announces Debt Settlement
Globenewswire· 2026-02-24 23:26
Core Viewpoint - A.I.S. Resources Limited has entered into debt settlement agreements to improve its financial position by reducing outstanding liabilities through the issuance of common shares [1][2][3] Debt Settlement Agreements - The company has settled an aggregate amount of $111,510 in outstanding debt with various arm's length creditors by issuing 2,124,000 common shares at a deemed price of $0.0525 per share [1] - Additionally, the company has settled $503,026.40 in outstanding fees with directors and officers by issuing 7,186,091 common shares at a deemed price of $0.07 per share, pending disinterested shareholder approval [2][3] Regulatory Compliance - The debt settlement transactions are subject to acceptance by the TSX Venture Exchange and all securities issued will be subject to a four-month hold period under Canadian securities laws [3] - The issuance of shares to non-arm's length parties in the Directors and Officers Shares for Debt Transactions is considered a related party transaction, exempt from minority approval and formal valuation requirements under Multilateral Instrument 61-101 [4] Company Overview - A.I.S. Resources Limited is a publicly traded company on the TSX Venture Exchange, focusing on natural resource opportunities and aiming to unlock value through early-stage project acquisitions and development support [5]
WestKam Gold Corp. Announces Shares for Debt Settlements and Grant of Options
Globenewswire· 2026-02-19 12:30
Core Viewpoint - WestKam Gold Corp. has negotiated debt settlements totaling $260,000, proposing to issue 2,476,189 common shares at a deemed price of $0.105 per share, subject to TSX Venture Exchange acceptance [1] Group 1: Debt Settlements - The company will settle $260,000 in debt by issuing 2,476,189 common shares at a price of $0.105 per share [1] - Directors and officers will receive 2,333,332 shares in exchange for settling $245,000 of debt, constituting a related party transaction [2] - The participation of directors and officers is expected to be exempt from formal valuation and minority shareholder approval requirements under MI 61-101 [2] Group 2: Stock Options - The company has granted incentive stock options to directors, officers, and certain consultants to purchase up to 1,500,000 common shares at a price of $0.105 per share, exercisable for 5 years [3] - The options and any shares issuable are subject to a TSXV hold period expiring June 20, 2026 [3] Group 3: Company Overview - WestKam Gold Corp. focuses on acquiring and developing mineral properties in Western Canada with strong potential for significant resources [4]
Copper Quest Announces Securities for Debt Settlement
Globenewswire· 2026-02-12 22:52
Core Viewpoint - Copper Quest Exploration Inc. has entered into a securities for debt settlement agreement to settle a debt of $113,405.28 through the issuance of 872,348 units at a deemed price of $0.13 per unit, which includes common shares and warrants [1][2]. Debt Settlement Agreement - The company will issue 872,348 units, each consisting of one common share and one share purchase warrant, to settle a debt of $113,405.28 [2]. - Each warrant is convertible into an additional share at an exercise price of $0.165 and will expire two years after issuance, with potential acceleration of the expiry date if the share price exceeds $0.50 for ten consecutive trading days [2]. Regulatory Approval - The agreement and the issuance of securities are subject to approval by the Canadian Securities Exchange (CSE) [3]. - The securities will be subject to a hold period of four months and one day in accordance with CSE policies and applicable securities laws [3]. Company Overview - Copper Quest holds interests in seven projects covering over 45,000 hectares in Canada and the USA, focusing on building shareholder value through acquisitions and exploration [4]. - The company has a 100% interest in several properties, including the Alpine Gold Mine, Stars Porphyry Copper-Molybdenum Property, Kitimat Copper-Gold Property, Nekash Copper-Gold Project, Stellar Property, and Thane Project, showcasing significant mineralization potential [5][6][7][8][9]. Project Highlights - The Alpine Gold Mine has a historical inferred resource of 268,000 tonnes, estimated to contain 142,000 ounces of gold [5]. - The Stars Property has drill intersection highlights of 0.466% Cu over 195.07m, indicating strong copper mineralization potential [6]. - The Kitimat Copper-Gold Property has historical drill results showing intersections of up to 1.03 g/t Au and 0.54% Cu over significant lengths [7].
Nexus Uranium Announces Debt Settlement
TMX Newsfile· 2026-02-10 23:00
Core Viewpoint - Nexus Uranium Corp. has entered into a debt settlement agreement to settle $81,000 in outstanding debt by issuing approximately 42,408 common shares at a deemed price of $1.91 per share [1][2]. Group 1: Debt Settlement Details - The debt settlement aims to preserve cash for working capital and improve the company's financial position by reducing existing liabilities [2]. - The debt settlement is expected to close shortly, subject to customary closing conditions and regulatory approvals [2]. - The shares issued in the debt settlement will be subject to a four-month hold period in accordance with Canadian securities laws [3]. Group 2: Company Overview - Nexus Uranium is a Canadian exploration company focused on uranium projects in North America, holding several projects in South Dakota and Wyoming, as well as the Mann Lake project in Saskatchewan's Athabasca Basin [4].
Metalite Announces Closing of Private Placement and Debt Settlement
TMX Newsfile· 2026-02-10 13:23
Core Viewpoint - Metalite Resources Inc. has successfully closed a non-brokered private placement, raising a total of $735,100 through the sale of 4,900,669 units, which will be used for working capital and general corporate purposes [1][3]. Group 1: Private Placement Details - Each unit was sold at a price of $0.15, consisting of one common share and one-half of a common share purchase warrant, with the warrant exercise price set at $0.25, expiring on February 9, 2028 [2]. - The company paid cash finder's fees totaling $12,960 and issued 86,400 broker warrants as part of the private placement [3]. - The private placement is subject to final acceptance by the Canadian Securities Exchange, and all securities issued are subject to a hold period of four months and one day from the date of issuance [7]. Group 2: Debt Settlement - Concurrently with the private placement, the company issued 2,352,277 common shares at a deemed price of $0.15 to settle $352,842 of indebtedness owed to senior management and other service providers [4]. - Following the completion of the private placement and debt settlement, the total number of common shares issued and outstanding is 10,356,459 [4]. Group 3: Shareholder Approval - The private placement and debt settlement required disinterested shareholder approval due to the issuance exceeding 100% of the currently issued shares, which was obtained through a consent resolution on January 27, 2026 [5]. - Certain insiders participated in the private placement, subscribing for 133,333 units for gross proceeds of $20,000, and were also issued 53,333 common shares as part of the debt settlement [6]. Group 4: Company Overview - Metalite Resources Inc. is a Canadian junior mineral exploration issuer focused on precious metals projects in New South Wales, Australia [8].
CleanGo Innovations Inc. Announces Debt Settlement
Thenewswire· 2026-02-10 00:40
Core Viewpoint - CleanGo Innovations Inc. has entered into debt settlement agreements to resolve an aggregate indebtedness of $308,801 by issuing 686,223 common shares at a deemed price of $0.45 per share, aimed at improving its working capital position and supporting ongoing business activities [1]. Group 1: Debt Settlement Details - The debt settlement will involve the issuance of 686,223 common shares at a price of $0.45 per share, totaling $308,801 in debt [1]. - A portion of the shares, specifically 519,557 common shares, will be issued to directors and officers of the company as part of the insider issuances for unpaid services [2]. - The insider issuances are classified as a "related party transaction" and the company is relying on exemptions from formal valuation and minority shareholder approval requirements under MI 61-101, as the fair market value does not exceed 25% of the company's market capitalization [2]. Group 2: Regulatory and Compliance Information - All shares issued in connection with the debt settlement will be subject to a hold period of four months and one day from the date of issuance, in accordance with Canadian securities laws [3]. - The completion of the debt settlement is contingent upon customary closing conditions and the receipt of all required regulatory approvals, including approval from the Canadian Securities Exchange [3]. Group 3: Company Overview - CleanGo Innovations Inc. specializes in developing proprietary, certified green, and sustainable solutions for industrial, commercial, and retail applications, with manufacturing operations across North and South America, and Saudi Arabia [4].
Euromax Announces Closing of Issuance of Common Shares to Galena in Connection with Repayment of Debt
Thenewswire· 2026-02-05 22:05
Core Viewpoint - Euromax Resources Ltd. has completed the issuance of 34,965,342 common shares to Galena Resource Equities Limited as part of a debt settlement agreement, repaying US$804,000 in outstanding debt [1][3]. Group 1: Transaction Details - The common shares were issued at a deemed offering price of C$0.0325 per share, totaling C$1,136,373.60 [1]. - The transaction is subject to a hold period of four months and one day, expiring on June 6, 2026, in accordance with TSX Venture Exchange policies [2]. - The transaction does not materially affect control of the company, with Galena being a related party [3]. Group 2: Ownership Changes - Prior to the transaction, Galena owned 520,589,314 common shares, representing approximately 56.38% ownership [5]. - After the transaction, Galena's ownership increased to 555,554,656 common shares, representing 57.97% ownership, an increase of 1.59% [6]. Group 3: Regulatory Compliance - The company will file a material change report regarding the transaction within the prescribed timeline [4]. - The transaction was conditional on receiving approval from the TSXV, which delayed the issuance of a material change report [4].
Metalite Announces Upsizing of Private Placement to up to $700,000
TMX Newsfile· 2026-02-04 23:09
Core Viewpoint - Metalite Resources Inc. is increasing its non-brokered private placement due to strong investor demand, raising total gross proceeds from $465,000 to $700,000 [1] Private Placement Details - The private placement will consist of units priced at $0.15 each, with each unit comprising one common share and one-half of a common share purchase warrant [4] - The warrants will allow holders to purchase one common share at a price of $0.25, with an expiry date two years from issuance, subject to acceleration if the share price exceeds $0.50 for ten consecutive trading days [4] Debt Settlement - Concurrently, the company plans to settle $352,842 of debt by issuing 2,352,277 common shares at a deemed price of $0.15 per share [2] - The debt settlement is part of a strategy to manage obligations to senior management and advisors [2] Closing Timeline - The private placement and debt settlement are expected to close around February 9, 2026 [3] Use of Proceeds - The net proceeds from the private placement will be utilized for working capital and general corporate purposes [6] Shareholder Approval - Due to the issuance exceeding 100% of the currently outstanding common shares, shareholder approval is required before the issuance of certain shares and warrants [6] - The company intends to obtain this approval through written consent from a majority of shareholders [6] Insider Participation - Certain insiders are expected to participate in the private placement, which is classified as a related party transaction [7] - The company will rely on exemptions from formal valuation and minority approval requirements, as the participation does not exceed 25% of the company's market capitalization [7] Company Overview - Metalite Resources Inc. is a Canadian junior mineral exploration issuer focused on precious metals projects in New South Wales, Australia [8]
Sylla Gold Announces Debt Settlement
TMX Newsfile· 2026-02-03 20:59
Core Viewpoint - Sylla Gold Corp. plans to settle $374,850 of debt by issuing 6,243,000 common shares at a price of $0.06 per share, subject to a four-month hold period and final acceptance by the TSX Venture Exchange [1]. Group 1: Debt Settlement Details - The debt settlement involves the issuance of 6,243,000 common shares at $0.06 each, totaling $374,850 [1]. - The transaction is classified as a "related party transaction," with insiders receiving 3,457,000 common shares [2]. - The company is relying on exemptions from certain requirements of Multilateral Instrument 61-101 due to financial difficulties [2]. Group 2: Approval and Governance - The debt settlement was approved by independent board members, excluding two directors [3]. - No special committee was formed for this transaction, and no dissenting opinions were expressed by the board [3].
Troy Minerals Announces Debt Settlement
Accessnewswire· 2026-01-28 01:00
Core Viewpoint - Troy Minerals Inc. plans to settle $348,000 of outstanding debt by issuing 2,784,000 common shares at a price of $0.125 per share, aiming to preserve cash for working capital and improve its financial position by reducing liabilities [1]. Financial Summary - The total amount of debt to be settled is $348,000 [1]. - The company will issue 2,784,000 common shares at a deemed price of $0.125 per share [1].