Medaro Mining Announces Shares for Debt Settlement
Medaro Mining (CSE: MEDA, OTC: MEDAF) has announced a debt conversion agreement dated February 4, 2024, to settle outstanding debt of $297,682 through the issuance of 3,166,826 common shares at $0.094 per share. The shares-for-debt transaction aims to improve the company's financial position by reducing existing liabilities.
The settlement requires approval from the Canadian Securities Exchange (CSE), and the issued shares will be subject to a four-month hold period from the date of issuance. The company confirmed that this debt settlement will not create a new control person, and no insiders are participating in the transaction.
Medaro Mining (CSE: MEDA, OTC: MEDAF) ha annunciato un accordo di conversione del debito datato 4 febbraio 2024, per risolvere un debito insoluto di $297.682 attraverso l'emissione di 3.166.826 azioni ordinarie a $0,094 per azione. La transazione di scambio azioni-per-debito mira a migliorare la posizione finanziaria dell'azienda riducendo le passività esistenti.
Il regolamento richiede l'approvazione della Canadian Securities Exchange (CSE) e le azioni emesse saranno soggette a un periodo di blocco di quattro mesi dalla data di emissione. L'azienda ha confermato che questa liquidazione del debito non creerà una nuova persona di controllo e nessun insider partecipa alla transazione.
Medaro Mining (CSE: MEDA, OTC: MEDAF) ha anunciado un acuerdo de conversión de deuda fechado el 4 de febrero de 2024, para saldar una deuda pendiente de $297,682 a través de la emisión de 3,166,826 acciones comunes a $0.094 por acción. La transacción de acciones por deuda tiene como objetivo mejorar la posición financiera de la empresa al reducir las pasivos existentes.
El acuerdo requiere la aprobación de la Canadian Securities Exchange (CSE), y las acciones emitidas estarán sujetas a un período de retención de cuatro meses a partir de la fecha de emisión. La compañía ha confirmado que esta liquidación de deuda no creará una nueva persona de control y ningún insider participará en la transacción.
메다로 마이닝 (CSE: MEDA, OTC: MEDAF)는 2024년 2월 4일 자로 미결제 채무 $297,682를 해결하기 위해 3,166,826주의 보통주를 주당 $0.094에 발행하는 채무 전환 계약을 발표했습니다. 주식-채무 거래는 기존 부채를 줄임으로써 회사의 재무 상태를 개선하는 것을 목표로 하고 있습니다.
이번 채무 합의는 캐나다 증권 거래소(CSE)의 승인을 필요로 하며, 발행된 주식은 발행일로부터 4개월 동안의 보유 기간이 적용됩니다. 회사 측은 이번 채무 결제가 새로운 지배 주체를 창출하지 않으며, 내부자가 거래에 참여하지 않는다고 확인했습니다.
Medaro Mining (CSE: MEDA, OTC: MEDAF) a annoncé un accord de conversion de dette daté du 4 février 2024, afin de régler une dette en cours de $297,682 par l'émission de 3,166,826 actions ordinaires à 0,094 $ par action. La transaction actions pour dettes vise à améliorer la position financière de l'entreprise en réduisant les passifs existants.
Le règlement nécessite l'approbation de la Canadian Securities Exchange (CSE), et les actions émises seront soumises à une période de blocage de quatre mois à compter de la date d'émission. L'entreprise a confirmé que ce règlement de dette ne créera pas de nouvelle personne de contrôle et qu'aucun insider ne participe à la transaction.
Medaro Mining (CSE: MEDA, OTC: MEDAF) hat am 4. Februar 2024 eine Vereinbarung zur Schuldenumwandlung bekannt gegeben, um eine ausstehende Schuld von $297.682 durch die Ausgabe von 3.166.826 Stammaktien zu einem Preis von $0,094 pro Aktie zu begleichen. Die Aktionär-gegen-Schuld-Transaktion zielt darauf ab, die Finanzlage des Unternehmens durch die Reduzierung bestehender Verbindlichkeiten zu verbessern.
Die Regelung bedarf der Genehmigung durch die Canadian Securities Exchange (CSE), und die emittierten Aktien unterliegen einer viermonatigen Haltedauer ab dem Ausgabedatum. Das Unternehmen bestätigte, dass diese Schuldenregelung keine neue Kontrollperson schaffen wird und keine Insider an der Transaktion teilnehmen.
- Reduces company liabilities by $297,682
- Preserves cash by settling debt with shares
- No creation of new control person
- Share dilution through issuance of 3,166,826 new shares
- Shares issued at relatively low price of $0.094
Vancouver, British Columbia--(Newsfile Corp. - February 5, 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 4, 2024, 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/239798
FAQ
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