Atomic Minerals to Proceed with Debt Settlement Transaction
Atomic Minerals (TSXV: ATOM) announced a debt settlement agreement with an arm's length third party, where the company will issue 458,182 common shares at $0.055 per share to settle a CAD$25,200 debt. This move aims to preserve cash for operations. The transaction is pending TSX Venture Exchange approval, and all issued shares will have a four-month and one-day hold period.
- Company is preserving cash for operations by settling debt with shares.
- Debt settlement involves a relatively small amount (CAD$25,200), suggesting manageable debt levels.
- Share issuance price is set at $0.055, which may be seen as favorable by investors.
- Issuing 458,182 shares could lead to shareholder dilution.
- The transaction is subject to TSX Venture Exchange approval, adding uncertainty.
- All shares are subject to a four-month and one-day hold period, potentially limiting liquidity in the short term.
Vancouver, British Columbia--(Newsfile Corp. - June 17, 2024) - Atomic Minerals Corporation (TSXV: ATOM) ("ATOMIC MINERALS" or the "Company") announces that it has entered into debt settlement agreement with an arm's length third party of the Company, pursuant to which the Company has agreed to issue an aggregate of 458,182 common shares (each, a "Share") at a deemed price of
The Company determined to satisfy this outstanding indebtedness with Shares to preserve its cash for operations. The Transaction is subject to TSX Venture Exchange approval. All Shares issued pursuant to the Transaction will be subject to a four-month and one-day hold period.
About the Company
Atomic Minerals is a Vancouver based publicly listed uranium exploration company trading on the TSX Venture Exchange, with current assets in Saskatchewan's Athabasca Basin and the Four Corners region of the southwest United States. The Company is led by a highly skilled management and technical team with numerous previous successes in the junior mining sector.
For additional information, please visit the Company's website at www.atomicminerals.ca
ON BEHALF OF THE BOARD OF DIRECTORS
"Clive Massey"
Clive H. Massey
President & CEO
For further information, please contact:
(604) 341-6870 or info@atomicminerals.ca
Neither TSX Venture Exchange nor their Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements:
This news release contains certain statements that may be deemed "forward-looking" statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although Atomic Minerals Corporation believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of Atomic Minerals Corporation management on the date the statements are made. Except as required by law, Atomic Minerals Corporation undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
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