Portofino Amends Amount of Debt to Be Issued for Shares
Portofino Resources (TSXV: POR) (OTC Pink: PFFOF) has revised its debt settlement agreement. The company will now settle up to $105,000 in outstanding debt by issuing 10.5 million common share Units at $0.01 per Unit, a reduction from the previously announced $205,000 debt settlement for 20.5 million Units.
Each Unit consists of one share and a half warrant, with each full warrant being convertible into one share at $0.05 per share for two years from closing. The debt settlement involves various arms-length creditors and requires TSX Venture Exchange approval.
Portofino Resources (TSXV: POR) (OTC Pink: PFFOF) ha rivisto il suo accordo di regolamento del debito. L'azienda ora salderà fino a $105.000 di debito in sospeso emettendo 10,5 milioni di unità azionarie comuni a $0,01 per unità, una riduzione rispetto al precedente accordo di regolamento del debito di $205.000 per 20,5 milioni di unità.
Ogni unità è composta da un'azione e mezza opzione, con ogni opzione completa convertibile in un'azione a $0,05 per azione per due anni dalla chiusura. Il regolamento del debito coinvolge vari creditori in condizioni di mercato e richiede l'approvazione della TSX Venture Exchange.
Portofino Resources (TSXV: POR) (OTC Pink: PFFOF) ha revisado su acuerdo de liquidación de deuda. La empresa ahora saldará hasta $105,000 de deuda pendiente emitiendo 10.5 millones de Unidades de acciones comunes a $0.01 por unidad, una reducción en comparación con el acuerdo de liquidación de deuda previamente anunciado de $205,000 por 20.5 millones de unidades.
Cada unidad consiste en una acción y media opción, siendo cada opción completa convertible en una acción a $0.05 por acción durante dos años a partir del cierre. La liquidación de deuda involucra a varios acreedores independientes y requiere la aprobación de la TSX Venture Exchange.
포르토피노 리소스 (TSXV: POR) (OTC Pink: PFFOF)는 채무 합의안을 수정했습니다. 이제 회사는 $105,000의 미지급 채무를 1050만 주의 보통주 유닛을 주당 $0.01에 발행하여 정산할 예정입니다. 이는 이전에 발표한 205,000달러의 2050만 유닛에 대한 채무 정산에서 감소한 수치입니다.
각 유닛은 한 주와 반 개의 워런트로 구성되며, 각 전체 워런트는 닫힌 날짜로부터 2년 동안 주당 $0.05에 한 주로 전환할 수 있습니다. 이 채무 정산은 다양한 독립 채권자와 관련이 있으며, TSX Venture Exchange의 승인이 필요합니다.
Portofino Resources (TSXV: POR) (OTC Pink: PFFOF) a révisé son accord de règlement de dette. L'entreprise réglera désormais jusqu'à 105 000 $ de dettes impayées en émettant 10,5 millions d'Unités d'actions ordinaires à 0,01 $ par unité, une réduction par rapport au règlement de dette précédemment annoncé de 205 000 $ pour 20,5 millions d'unités.
Chaque unité se compose d'une action et d'une demi-option, chaque option complète étant convertible en une action à 0,05 $ par action pendant deux ans à partir de la clôture. Le règlement de la dette implique divers créanciers indépendants et nécessite l'approbation de la TSX Venture Exchange.
Portofino Resources (TSXV: POR) (OTC Pink: PFFOF) hat seine Schuldenregulierungsvereinbarung überarbeitet. Das Unternehmen wird nun bis zu 105.000 $ an ausstehenden Schulden durch die Ausgabe von 10,5 Millionen Stammaktien-Einheiten zu je 0,01 $ pro Einheit begleichen, was eine Reduzierung gegenüber der zuvor angekündigten Schuldenregulierung von 205.000 $ für 20,5 Millionen Einheiten darstellt.
Jede Einheit besteht aus einer Aktie und einer halben Option, wobei jede vollständige Option innerhalb von zwei Jahren nach Abschluss zu einem Preis von 0,05 $ pro Aktie in eine Aktie umgewandelt werden kann. Die Schuldenregulierung umfasst verschiedene unbeteiligte Gläubiger und erfordert die Genehmigung der TSX Venture Exchange.
- Debt reduction of $105,000 through equity conversion
- No immediate cash outflow required for debt settlement
- Significant shareholder dilution through issuance of 10.5 million new shares
- Additional potential dilution from warrant exercise
- 50% lower debt settlement amount compared to previous announcement
Vancouver, British Columbia--(Newsfile Corp. - February 3, 2025) - Portofino Resources Inc. (TSXV: POR) (OTC Pink: PFFOF) (FSE: POTA) ("Portofino" or the "Company") reports that it executed agreements with various (arms-length) creditors to settle up to
Each Unit comprises 1 share and a ½ warrant; each full warrant will be convertible into 1 share at $.05/share for 2 years from closing. The share for debt transactions are subject to TSX Venture Exchange approval.
About Portofino Resources Inc.
Portofino is a Vancouver, Canada-based company focused on exploring and developing mineral resource projects in the Americas. Portofino holds a
The Company also holds a
ON BEHALF OF THE BOARD
"David G. Tafel"
Chief Executive Officer
For Further Information Contact:
David Tafel CEO, Director
604-683-1991
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains "forward-looking statements" within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking statements. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved". The forward-looking information and forward-looking statements contained herein include, but are not limited to, statements regarding the Company's future business plans. Forward-looking information in this news release is based on certain assumptions and expected future events, namely the growth and development of the Company's business as currently anticipated. These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements. Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement and reflect the Company's expectations as of the date hereof and are subject to change thereafter. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.
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FAQ
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