Aranjin Announces Completion of Debt Settlement and Conversion of Debenture Interest
- Aranjin Resources has completed the debt settlement and conversion of accrued interest on convertible debentures held by Steppe Gold, issuing 9,883,163 shares at a deemed price of $0.055 per share. Steppe now holds approximately 11.06% of Aranjin's issued and outstanding shares. Additionally, Aranjin has issued 19,901,552 shares at a deemed price of $0.055 per share to settle indebtedness of $1,045,863 with R&R Venture Partners and certain directors.
- The completion of the debt settlement and conversion strengthens Aranjin's financial position and may positively impact its stock price.
- None.
Ulaanbaatar, Mongolia--(Newsfile Corp. - October 2, 2023) - Aranjin Resources Ltd. (TSXV: ARJN) (the "Company" or "Aranjin") is pleased to announce that further to its press release dated August 16, 2023, it has completed the previously announced debt settlement and conversion of accrued interest on convertible debentures ("Debentures") held by Steppe Gold Ltd. ("Steppe") into common shares ("Shares") of the Company.
The Company has issued 9,883,163 Shares at a deemed price of
The Company has also issued an aggregate of 19,901,552 Shares at a deemed price of
The issuance of the Shares to R&R Venture Partners as a
On behalf of the Board
Matthew Wood
Executive Chairman
Aranjin Resources Ltd.
+976 7732 1914
Cautionary Statements
Certain information contained herein constitutes forward-looking information or statements under applicable securities legislation and rules. Such statements include, but are not limited to, filing of a material change report for the issuance of Shares. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Aranjin to be materially different from those expressed or implied by such forward-looking statements. Although management of Aranjin has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate. Accordingly, readers should not place undue reliance on forward-looking statements. Aranjin will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws. Aranjin caution readers not to place undue reliance on these forward-looking statements and it does not undertake any obligation to revise and disseminate forward-looking statements to reflect events or circumstances after the date hereof, or to reflect the occurrence of or non-occurrence of any events.
This press release is not and is not to be construed in any way as, an offer to buy or sell securities in the United States. This press release shall not constitute an offer to sell or the solicitation of an offer to buy Aranjin common shares, nor shall there be any offer or sale of Aranjin common shares in any jurisdiction in which such offer, solicitation or sale would be unlawful.
NEITHER TSX VENTURE EXCHANGE NOR ITS 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/182611