Medaro Mining Announces Shares for Debt Settlement
Medaro Mining Corp. (MEDAF) has announced a debt settlement agreement dated February 10, 2025, to convert $98,474.50 of debt into 1,047,601 common shares at $0.094 per share. The debt conversion aims to improve the company's financial position by reducing existing liabilities.
The shares issued will be subject to a four-month hold period and require Canadian Securities Exchange (CSE) approval. The settlement will not create a new control person, and no insiders are participating. Medaro currently holds options over several lithium properties in Quebec, owns the James Bay Pontax project and Superb Lake lithium property, and is involved in a joint venture for developing a new lithium extraction process from spodumene concentrate.
Medaro Mining Corp. (MEDAF) ha annunciato un accordo di risoluzione del debito datato 10 febbraio 2025, per convertire 98.474,50 dollari di debito in 1.047.601 azioni ordinarie al prezzo di 0,094 dollari per azione. La conversione del debito mira a migliorare la posizione finanziaria della società riducendo le passività esistenti.
Le azioni emesse saranno soggette a un periodo di blocco di quattro mesi e richiederanno l'approvazione della Canadian Securities Exchange (CSE). La risoluzione non creerà una nuova persona di controllo e non ci sono partecipazioni da parte di interni. Medaro detiene attualmente opzioni su diversi beni litio in Quebec, possiede il progetto James Bay Pontax e il progetto litio Superb Lake, ed è coinvolta in una joint venture per sviluppare un nuovo processo di estrazione del litio dal concentrato di spodumene.
Medaro Mining Corp. (MEDAF) ha anunciado un acuerdo de liquidación de deuda fechado el 10 de febrero de 2025, para convertir 98,474.50 dólares de deuda en 1,047,601 acciones ordinarias a un precio de 0.094 dólares por acción. La conversión de la deuda tiene como objetivo mejorar la posición financiera de la empresa al reducir las pasivos existentes.
Las acciones emitidas estarán sujetas a un período de retención de cuatro meses y requerirán la aprobación de la Canadian Securities Exchange (CSE). La liquidación no creará una nueva persona de control y no participarán personas relacionadas. Medaro actualmente posee opciones sobre varios proyectos de litio en Quebec, es propietaria del proyecto James Bay Pontax y del proyecto de litio Superb Lake, y participa en una empresa conjunta para desarrollar un nuevo proceso de extracción de litio a partir de concentrado de espodumena.
Medaro Mining Corp. (MEDAF)는 2025년 2월 10일 자로 98,474.50달러의 부채를 주당 0.094달러에 1,047,601주로 전환하는 부채 해결 계약을 발표했습니다. 이 부채 전환은 기존의 부채를 줄여 회사의 재무 상태를 개선하는 것을 목표로 합니다.
발행되는 주식은 4개월의 보류 기간이 있으며 캐나다 증권 거래소(CSE)의 승인이 필요합니다. 이번 해결은 새로운 관리자를 만들지 않으며 내부자는 참여하지 않습니다. Medaro는 현재 퀘벡의 여러 리튬 자산에 대한 옵션을 보유하고 있으며, James Bay Pontax 프로젝트와 Superb Lake 리튬 자산을 소유하고 있으며, 스포듐네 농축물에서 리튬 추출을 위한 새로운 공정 개발에 관한 조인트 벤처에 참여하고 있습니다.
Medaro Mining Corp. (MEDAF) a annoncé un accord de règlement de dettes daté du 10 février 2025, pour convertir 98 474,50 $ de dettes en 1 047 601 actions ordinaires au prix de 0,094 $ par action. La conversion de la dette vise à améliorer la situation financière de l'entreprise en réduisant les passifs existants.
Les actions émises seront soumises à une période de blocage de quatre mois et nécessiteront l'approbation de la Canadian Securities Exchange (CSE). Le règlement ne créera pas une nouvelle personne de contrôle et aucun initié ne participera. Medaro détient actuellement des options sur plusieurs propriétés de lithium au Québec, possède le projet James Bay Pontax et la propriété de lithium Superb Lake, et participe à une coentreprise pour développer un nouveau processus d'extraction du lithium à partir de concentré de spodumène.
Medaro Mining Corp. (MEDAF) hat am 10. Februar 2025 eine Vereinbarung zur Schuldenregulierung bekannt gegeben, um 98.474,50 US-Dollar Schulden in 1.047.601 Stammaktien zu einem Preis von 0,094 US-Dollar pro Aktie umzuwandeln. Die Schuldenumwandlung zielt darauf ab, die finanzielle Situation des Unternehmens zu verbessern, indem bestehende Verbindlichkeiten reduziert werden.
Die ausgegebenen Aktien unterliegen einer Sperrfrist von vier Monaten und erfordern die Genehmigung der Canadian Securities Exchange (CSE). Die Vereinbarung wird keine neue Kontrollperson schaffen, und es sind keine Insidern beteiligt. Medaro hält derzeit Optionen auf mehrere Lithium-Projekte in Quebec, besitzt das Projekt James Bay Pontax und das Lithium-Projekt Superb Lake und ist an einem Joint Venture zur Entwicklung eines neuen Lithium-Extraktionsprozesses aus Spodumen-Konzentrat beteiligt.
- Reduction of $98,474.50 in existing liabilities through share issuance
- No insider participation in debt settlement, maintaining current control structure
- Share dilution through issuance of 1,047,601 new common shares
- Shares issued at $0.094, indicating relatively low share price
Vancouver, British Columbia--(Newsfile Corp. - February 10, 2025) - Medaro Mining Corp. (CSE: MEDA) (OTC Pink: MEDAF) (FSE: 1ZY) ("Medaro" or the "Company") is pleased to announce that it has entered into a debt conversion agreement (the "Agreement"), dated February 10, 2025, with certain creditors of the Company (the "Creditors") to settle a debt of
The debt settlement will not create a new control person nor are any insiders participating in the settlement. The Company wishes to complete the Shares for Debt Transaction to improve its financial position by reducing its existing liabilities.
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,
Faizaan Lalani
Interim CEO & Director
About the Company
The Company is an exploration company based in Vancouver, BC, and holds options over the Darlin, Rapide, Lac La Motte and CYR South lithium properties in Quebec. The Company owns the James Bay Pontax project in Quebec and the Superb Lake lithium property located in Thunder Bay, Ontario. The Company is a party to a joint venture agreement that engages the Company in the development and commercialization of a new process to extract lithium from spodumene concentrate.
For more information, investors should review the Company's filings that are available at www.sedarplus.ca.
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 the Shares for Debt Transaction and the purpose thereof, are "forward-looking statements." These forward-looking statements reflect the expectations or beliefs of management of the Company based on information currently available to it. 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/240289
FAQ
How much debt is Medaro Mining (MEDAF) converting to shares in the February 2025 settlement?
What is the price per share for MEDAF's debt conversion agreement?
How many new shares will MEDAF issue for the debt settlement?
What is the hold period for the new MEDAF shares issued in the debt settlement?
Will the MEDAF debt settlement create a new control person?
