Meryllion Announces Proposed Shares-for-Debt Settlement
Meryllion Resources (CSE: MYR) has announced a proposed shares-for-debt settlement with Croesus Mining Pty , a company controlled by director David Steinepreis. The transaction aims to settle a $50,000 loan through the issuance of 2,500,000 common shares at a deemed price of $0.02 per share.
The completion of this settlement requires regulatory approvals, including from the Canadian Securities Exchange. The issued shares will be subject to a four-month and one-day hold period. As this transaction constitutes a 'related party transaction' under MI 61-101, the Company plans to rely on exemptions from valuation and minority shareholder approval requirements, as the transaction value does not exceed 25% of the Company's market capitalization.
Meryllion Resources (CSE: MYR) ha annunciato una proposta di compensazione debito-azioni con Croesus Mining Pty, una società controllata dal direttore David Steinepreis. L'operazione mira a estinguere un prestito di 50.000 $ tramite l'emissione di 2.500.000 azioni ordinarie a un prezzo nominale di 0,02 $ per azione.
Il completamento di questa operazione richiede l'approvazione degli enti regolatori, incluso il Canadian Securities Exchange. Le azioni emesse saranno soggette a un periodo di blocco di quattro mesi e un giorno. Poiché questa transazione costituisce una 'operazione con parti correlate' ai sensi del MI 61-101, la Società intende avvalersi delle esenzioni dai requisiti di valutazione e approvazione da parte degli azionisti di minoranza, dato che il valore della transazione non supera il 25% della capitalizzazione di mercato della Società.
Meryllion Resources (CSE: MYR) ha anunciado una propuesta de liquidación deuda-acciones con Croesus Mining Pty, una empresa controlada por el director David Steinepreis. La transacción busca saldar un préstamo de 50,000 $ mediante la emisión de 2,500,000 acciones ordinarias a un precio considerado de 0.02 $ por acción.
La finalización de esta liquidación requiere aprobaciones regulatorias, incluyendo la del Canadian Securities Exchange. Las acciones emitidas estarán sujetas a un período de retención de cuatro meses y un día. Dado que esta transacción constituye una 'operación con partes relacionadas' bajo MI 61-101, la Compañía planea acogerse a exenciones de los requisitos de valoración y aprobación por parte de accionistas minoritarios, ya que el valor de la transacción no supera el 25% de la capitalización de mercado de la Compañía.
Meryllion Resources (CSE: MYR)는 이사 David Steinepreis가 통제하는 회사인 Croesus Mining Pty와의 채무 대 주식 결제 제안을 발표했습니다. 이 거래는 50,000달러 대출을 주당 0.02달러의 평가 가격으로 2,500,000 보통주를 발행하여 상환하는 것을 목표로 합니다.
이 결제 완료를 위해서는 캐나다 증권거래소를 포함한 규제 기관의 승인이 필요합니다. 발행된 주식은 4개월 1일간의 보호예수 기간이 적용됩니다. 이 거래는 MI 61-101에 따른 '관련 당사자 거래'에 해당하므로, 거래 금액이 회사 시가 총액의 25%를 초과하지 않아 회사는 평가 및 소수 주주 승인 요건 면제에 의존할 계획입니다.
Meryllion Resources (CSE : MYR) a annoncé une proposition de règlement par échange d'actions avec Croesus Mining Pty, une société contrôlée par le directeur David Steinepreis. Cette opération vise à régler un prêt de 50 000 $ par l'émission de 2 500 000 actions ordinaires à un prix réputé de 0,02 $ par action.
La réalisation de ce règlement nécessite des approbations réglementaires, notamment de la Bourse des valeurs canadienne. Les actions émises seront soumises à une période de blocage de quatre mois et un jour. Étant donné que cette transaction constitue une « opération avec une partie liée » selon la norme MI 61-101, la Société prévoit de s'appuyer sur des exemptions des exigences d'évaluation et d'approbation des actionnaires minoritaires, car la valeur de la transaction ne dépasse pas 25 % de la capitalisation boursière de la Société.
Meryllion Resources (CSE: MYR) hat eine vorgeschlagene Schulden-gegen-Aktien-Vereinbarung mit Croesus Mining Pty angekündigt, einem Unternehmen, das von Direktor David Steinepreis kontrolliert wird. Die Transaktion zielt darauf ab, ein Darlehen in Höhe von 50.000 $ durch die Ausgabe von 2.500.000 Stammaktien zu einem angenommenen Preis von 0,02 $ pro Aktie zu begleichen.
Der Abschluss dieser Vereinbarung erfordert behördliche Genehmigungen, einschließlich der kanadischen Wertpapierbörse. Die ausgegebenen Aktien unterliegen einer Haltefrist von vier Monaten und einem Tag. Da diese Transaktion eine 'Transaktion mit nahestehenden Parteien' gemäß MI 61-101 darstellt, plant das Unternehmen, sich auf Ausnahmen von Bewertungs- und Minderheitsaktionärszustimmungspflichten zu stützen, da der Transaktionswert 25 % der Marktkapitalisierung des Unternehmens nicht überschreitet.
- Debt reduction of $50,000 without cash expenditure
- Transaction value below 25% of market cap, qualifying for simplified regulatory process
- Share dilution through issuance of 2,500,000 new shares
- Related party transaction with company director may raise governance concerns
Vancouver, British Columbia--(Newsfile Corp. - April 25, 2025) - Meryllion Resources Corporation (CSE: MYR) ("Meryllion" or the "Company") announces that it intends to complete a shares-for-debt transaction with Croesus Mining Pty Ltd (a company controlled by Mr. David Steinepreis, a director of the Company) to settle an outstanding loan of
Completion of the debt settlement is subject to the receipt of all necessary regulatory approvals, including from the Canadian Securities Exchange (the "CSE"). The Shares to be issued will be subject to a hold period of four months and one day from the date of issuance, in accordance with applicable securities laws.
The issuance of the Shares pursuant to the shares-for-debt transaction constitutes a "related party transaction" as such term is defined by Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company expects to rely on the exemptions from the valuation and minority shareholder approval requirements for related party transactions in connection with the issuance of the Shares that are set out in sections 5.5(a) and 5.7(1)(a) of MI 61-101 as neither the fair market value (as determined under MI 61-101) of the subject matter of, nor the fair market value of the consideration for, the issuance of the Shares, exceeds
For further information, please contact:
Mr. Richard Revelins
Director and Chief Executive Officer
Meryllion Resources Corporation
+1-310-405-4475
rrevelins@peregrinecorporate.com
Forward-Looking Statements
Information set forth in this news release may involve forward-looking statements under applicable securities laws. The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this document are made as of the date of this document and the Corporation disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. Although Management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein and accordingly undue reliance should not be put on such.
Neither CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) 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/249771
FAQ
What are the terms of Meryllion's (MYRLF) shares-for-debt settlement announced in April 2025?
How long is the hold period for the newly issued MYRLF shares in this debt settlement?
Why is Meryllion's (MYRLF) debt settlement considered a related party transaction?
What regulatory approvals does MYRLF need for this shares-for-debt settlement?
