Meryllion Resources Closes Shares-for-Debt Settlement

Rhea-AI Summary

Meryllion Resources (MYRLF) closed a shares-for-debt transaction with its CFO, issuing 200,000 common shares at $0.05 per share to settle $10,000 of accrued salary. The shares are subject to a hold period of four months and one day. The transaction is considered a related party transaction under MI 61-101, with exemptions from valuation and minority shareholder approval requirements. For more information, contact Mr. Richard Revelins, the CEO.

Vancouver, British Columbia--(Newsfile Corp. - March 28, 2024) - Meryllion Resources Corporation (CSE: MYR) (OTC PINK: MYRLF) ("Meryllion" or the "Corporation") is pleased to announce that it has closed its previously announced shares-for-debt transaction with its Chief Financial Officer to settle $10,000 of accrued salary. Pursuant to the transaction, a total of 200,000 common shares in the capital stock of Meryllion (the "Shares") were issued at a deemed issued price of $0.05 per Share. All Shares issued pursuant to the transaction are subject to a hold period of four months and one day from the date of issuance.

The issuance of the Shares pursuant to the 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 Corporation relies 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 25% of the Corporation's market capitalization (as determined under MI 61-101).

For further information, please contact:

Mr. Richard Revelins
Director and Chief Executive Officer
Meryllion Resources Corporation 

Investor Relations
Jorge@jeminicapital.com
+1-647-725-3888 ext. 704

+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/203484

FAQ

What was the purpose of the shares-for-debt transaction involving Meryllion Resources (MYRLF)?

The purpose was to settle $10,000 of accrued salary with the CFO by issuing 200,000 common shares at $0.05 per share.

What is the hold period for the shares issued in the transaction by Meryllion Resources (MYRLF)?

The shares issued in the transaction are subject to a hold period of four months and one day.

Who can be contacted for further information regarding the transaction involving Meryllion Resources (MYRLF)?

For further information, contact Mr. Richard Revelins, the Director and CEO of Meryllion Resources