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Metalite Resources Inc. is a Canadian junior mineral exploration issuer with a focus on precious metals. The company recently announced a consolidation of its common shares, reducing the outstanding shares significantly. Metalite also entered into settlement agreements with creditors to issue common shares to settle debts. Furthermore, the company has signed a letter of intent to acquire an interest in an advanced critical metals project in Ontario. Metalite is launching a private placement to fund exploration work and has changed its auditor recently.
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Metalite Resources Inc. subsidiary Next Generation Resources Inc. files for bankruptcy under Section 49 of the Bankruptcy and Insolvency Act (Canada), with a meeting of creditors scheduled for February 27, 2024.
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Metalite Resources Inc. announces a change in auditors and the granting of incentive stock options. The Former Auditor, Crowe MacKay LLP, has been replaced by DNTW Toronto LLP. The Company has also granted 1,150,000 common shares in the capital of the Company as Options, with 900,000 Options granted to certain directors and officers. All Options are fully vested and exercisable for a five-year term at an exercise price of $0.05.
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Metalite Resources Inc. has announced a non-binding letter of intent with Cachee Gold Mines Corp. to acquire an interest in an advanced stage critical metals project located in Ontario. The company's Interim CEO and Director, David Melling, expressed optimism about the acquisition, citing its potential to create shareholder value.
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Metalite Resources Inc. (CSE:METL)(OTC PINK:JNCCF)(Frankfurt:5VHA) announces entering into settlement agreements with certain creditors to issue an aggregate amount of 10,431,813 common shares in the capital of the Company at a deemed issue price of $0.03 per Common Share and 331,800 Common Shares at a deemed issue price of $0.05 per Common Share to settle bona fide debts of the Company in the aggregate amount of $329,544.39.
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Metalite Resources Inc. announces share consolidation effective October 20, 2023.
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Metalite Resources Inc. announces share consolidation at a ratio of 10:1, resulting in a reduction of outstanding common shares from 145,219,150 to approximately 14,521,915. Fractional shares will be rounded down with no cash consideration. The consolidation aims to provide greater flexibility for business development and growth. No change of business or name is associated with the consolidation. Next Gen principal to cancel 12,400,000 common shares. Company terminates VP Exploration's employment.
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Metalite Resources announces resignation of Dale Schultz from board of directors for health reasons.
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Metalite Resources Inc. appoints Mr. Paul L. Jones as Chairman of the board of directors. Mr. Jones has over 40 years of project management and corporate experience in the mineral exploration industry. He replaces David Kol who recently resigned.
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FAQ
What is the current stock price of METALITE RESOURCES (JNCCF)?
The current stock price of METALITE RESOURCES (JNCCF) is $0.025 as of August 20, 2024.
What is the market cap of METALITE RESOURCES (JNCCF)?
The market cap of METALITE RESOURCES (JNCCF) is approximately 483.0K.
What is Metalite Resources Inc. focused on?
Metalite Resources Inc. is a Canadian junior mineral exploration issuer with a precious metals-focused project.
What recent announcement did Metalite make regarding its common shares?
Metalite announced a consolidation of its common shares, reducing the outstanding shares significantly.
What agreements did Metalite enter into with creditors?
Metalite entered into settlement agreements with creditors to issue common shares to settle debts.
What letter of intent did Metalite sign recently?
Metalite signed a letter of intent to acquire an interest in an advanced critical metals project in Ontario.
What funding initiative is Metalite launching?
Metalite is launching a private placement to fund exploration work on the Titan Project.
What recent change did Metalite make regarding its auditor?
Metalite changed its auditor from Crowe MacKay LLP to DNTW Toronto LLP, effective January 12, 2024.
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