Medaro Mining Announces Shares for Debt Settlement
Medaro Mining (CSE: MEDA) has announced a debt settlement agreement to clear $87,777.00 of debt by issuing 501,582 common shares at a deemed price of $0.175 per share. The settlement involves no warrants and will not create a new control person, with no insider participation. The shares will be subject to a four-month hold period from issuance, pending Canadian Securities Exchange approval. The company states this decision aims to reduce indebtedness while preserving cash and improving its financial position.
Medaro Mining (CSE: MEDA) ha annunciato un accordo di saldo dei debiti per estinguere debiti per un totale di $87,777.00 attraverso l'emissione di 501,582 azioni ordinarie a un prezzo presunto di $0.175 per azione. L'accordo non prevede warrant e non creerà una nuova persona di controllo, con nessuna partecipazione di insider. Le azioni saranno soggette a un periodo di blocco di quattro mesi dalla data di emissione, in attesa dell'approvazione della Canadian Securities Exchange. La società dichiara che questa decisione mira a ridurre l'indebitamento preservando liquidità e migliorando la propria posizione finanziaria.
Medaro Mining (CSE: MEDA) ha anunciado un acuerdo de liquidación de deudas para cancelar $87,777.00 de deuda mediante la emisión de 501,582 acciones comunes a un precio estimado de $0.175 por acción. La liquidación no involucra warrants y no creará una nueva persona de control, sin participación de insiders. Las acciones estarán sujetas a un período de bloqueo de cuatro meses desde su emisión, a la espera de la aprobación de la Canadian Securities Exchange. La empresa afirma que esta decisión tiene como objetivo reducir la deuda mientras preserva el efectivo y mejora su posición financiera.
메다로 마이닝 (CSE: MEDA)는 87,777.00달러의 부채를 청산하기 위해 501,582주를 주당 0.175달러의 초과 가격으로 발행하는 부채 합의서를 발표했습니다. 이 합의는 워런트를 포함하지 않으며 새로운 지배자도 만들지 않으며, 내부자의 참여도 없습니다. 주식은 발행일로부터 4개월간 유예 기간이 있으며, 캐나다 증권 거래소의 승인을 기다리고 있습니다. 회사는 이번 결정이 채무를 줄이고 현금을 유지하며 재무 상태를 개선하는 것을 목표로 한다고 설명했습니다.
Medaro Mining (CSE: MEDA) a annoncé un accord de règlement de dette pour régler 87 777,00 $ de dette en émettant 501 582 actions ordinaires à un prix réputé de 0,175 $ par action. Le règlement n'implique pas de bons de souscription et ne créera pas de nouvelle personne contrôlante, sans participation d'initiés. Les actions seront soumises à une période de blocage de quatre mois à compter de leur émission, en attendant l'approbation de la Canadian Securities Exchange. La société indique que cette décision vise à réduire l'endettement tout en préservant la trésorerie et en améliorant sa position financière.
Medaro Mining (CSE: MEDA) hat eine Schuldenregulierungsvereinbarung angekündigt, um Schulden in Höhe von 87.777,00 USD durch die Ausgabe von 501.582 Stammaktien zu einem geschätzten Preis von 0,175 USD pro Aktie zu begleichen. Die Vereinbarung umfasst keine Warrants und wird keine neue Kontrollperson schaffen, und es gibt keine Insider-Beteiligung. Die Aktien unterliegen einer viermonatigen Sperrfrist ab der Ausgabe, die auf die Genehmigung der Canadian Securities Exchange wartet. Das Unternehmen erklärt, dass diese Entscheidung darauf abzielt, die Verschuldung zu reduzieren, während es Bargeld erhält und seine finanzielle Lage verbessert.
- Reduces debt liability by $87,777.00 without using cash reserves
- Improves balance sheet structure through equity conversion
- Share dilution of 501,582 new common shares
- Shares issued at $0.175, potentially below market value
Vancouver, British Columbia--(Newsfile Corp. - December 20, 2024) - Medaro Mining Corp. (CSE: MEDA) ("Medaro" or the "Company") announces that it has agreed to settle
The debt settlement will not create a new control person nor are any insiders participating in the settlement. The Company believes it is in the best interests of its shareholders to reduce the amount of indebtedness while preserving cash and improving its financial position.
The debt settlement transaction is subject to the approval of the Canadian Securities Exchange (the "CSE") and pursuant to the policies of the CSE, the Shares are subject to a hold period of four months from the date of issuance.
On Behalf of The Board of Directors,
Michael Mulberry
Chief Executive Officer
About the Company
The Company is an exploration company based in Vancouver, BC. and holds options over the Superb Lake lithium property located in Thunder Bay, Ontario; Darlin, Rapide and the CYR South lithium properties in Quebec; and Yurichson Uranium property in the Athabasca basin Saskatchewan. The Company owns
Forward-Looking Statements
This news release contains certain forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, including statements regarding regulatory approval and the timing thereof are "forward-looking statements." These forward-looking statements reflect the expectations or beliefs of management of the Company based on information currently available. Forward-looking statements are subject to a number of risks and uncertainties, including those detailed from time to time in filings made by the Company with securities regulatory authorities, which may cause actual outcomes to differ materially from those discussed in the forward-looking statements. These factors should be considered carefully, and readers are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
Contact Information
info@medaromining.com
604-602-0001
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/234821
FAQ
How much debt is Medaro Mining (MEDA) settling through share issuance in December 2024?
What is the price per share for Medaro Mining's December 2024 debt settlement?
How long is the hold period for the newly issued MEDA shares in the debt settlement?
Will Medaro Mining's debt settlement create a new control person?
