Sixty North Gold Mining Announces Debt Settlements
Sixty North Gold Mining (CSE: SXTY, OTC: SXNTF) has announced debt settlements with certain company officers, a director, and a consultant. The company will settle a total indebtedness of $151,426.15 through the issuance of 1,514,261 common shares at a deemed value of $0.10 per share, plus GST (paid in cash). The debt represents accrued management and consulting fees from May 1, 2024, to February 28, 2025, and other services. The issued shares will be subject to a 4-month and one-day resale restriction period from their issuance date.
Sixty North Gold Mining (CSE: SXTY, OTC: SXNTF) ha annunciato accordi di liquidazione dei debiti con alcuni dirigenti dell'azienda, un direttore e un consulente. L'azienda risolverà un indebitamento totale di $151,426.15 attraverso l'emissione di 1,514,261 azioni ordinarie a un valore presunto di $0,10 per azione, più GST (pagato in contante). Il debito rappresenta compensi di gestione e consulenza maturati dal 1 maggio 2024 al 28 febbraio 2025, e altri servizi. Le azioni emesse saranno soggette a un periodo di restrizione alla rivendita di 4 mesi e un giorno dalla data di emissione.
Sixty North Gold Mining (CSE: SXTY, OTC: SXNTF) ha anunciado acuerdos de liquidación de deudas con ciertos funcionarios de la empresa, un director y un consultor. La empresa liquidará una deuda total de $151,426.15 mediante la emisión de 1,514,261 acciones ordinarias a un valor estimado de $0.10 por acción, más GST (pagado en efectivo). La deuda representa honorarios acumulados de gestión y consultoría desde el 1 de mayo de 2024 hasta el 28 de febrero de 2025, y otros servicios. Las acciones emitidas estarán sujetas a un período de restricción de reventa de 4 meses y un día desde su fecha de emisión.
Sixty North Gold Mining (CSE: SXTY, OTC: SXNTF)는 특정 회사 임원, 이사 및 컨설턴트와의 채무 합의를 발표했습니다. 회사는 $151,426.15의 총 채무를 1,514,261주 보통주의 발행을 통해 해결할 예정이며, 주당 가치는 $0.10로 평가됩니다. GST는 현금으로 지급됩니다. 이 채무는 2024년 5월 1일부터 2025년 2월 28일까지의 관리 및 컨설팅 수수료 및 기타 서비스에 대한 것입니다. 발행된 주식은 발행일로부터 4개월 1일의 재판매 제한 기간이 적용됩니다.
Sixty North Gold Mining (CSE: SXTY, OTC: SXNTF) a annoncé des règlements de dettes avec certains dirigeants de l'entreprise, un directeur et un consultant. L'entreprise réglera une dette totale de $151,426.15 par l'émission de 1,514,261 actions ordinaires à une valeur estimée de 0,10 $ par action, plus la TPS (payée en espèces). La dette représente des frais de gestion et de consultation accumulés du 1er mai 2024 au 28 février 2025, ainsi que d'autres services. Les actions émises seront soumises à une restriction de revente de 4 mois et un jour à partir de leur date d'émission.
Sixty North Gold Mining (CSE: SXTY, OTC: SXNTF) hat Schuldenregelungen mit bestimmten Unternehmensleitern, einem Direktor und einem Berater bekannt gegeben. Das Unternehmen wird eine Gesamtschuld von $151,426.15 durch die Ausgabe von 1,514,261 Stammaktien zu einem angenommenen Wert von $0,10 pro Aktie, zuzüglich GST (in bar bezahlt), begleichen. Die Schulden umfassen aufgelaufene Management- und Beratungsgebühren vom 1. Mai 2024 bis zum 28. Februar 2025 sowie andere Dienstleistungen. Die ausgegebenen Aktien unterliegen einer 4-monatigen und 1-tägigen Verkaufsbeschränkung ab dem Ausgabedatum.
- Reduction of $151,426.15 in debt obligations without cash expenditure
- Management alignment with shareholders through equity compensation
- 1,514,261 new shares issuance causing shareholder dilution
- Company unable to pay management fees in cash, indicating potential liquidity issues
Vancouver, British Columbia--(Newsfile Corp. - March 24, 2025) - Sixty North Gold Mining Ltd. (CSE: SXTY) (FSE: 2F40) (OTC Pink: SXNTF) (the "Company" or "Sixty North Gold") announces that it has arranged debt settlements with certain officers and a director of the Company, as well as a consultant of the Company, to settle a total of
About the Company
The Company is developing mining operations for gold on its
Other targets on the property include silver and gold-rich volcanogenic massive sulphide (VMS) targets, as well as partially-exposed shear zone-hosted gold mineralization.
For more information, please refer to the Company's public filings available on SEDAR+ (www.sedarplus.ca), under the Company's profile.
ON BEHALF OF THE BOARD OF DIRECTORS
"Dave Webb"
Dave Webb, President & CEO
For further information, please contact:
Dave Webb
Tel.: 604 818-1400
Email: dave@drwgcl.com
Website: www.sixtynorthgold.com
Statements about the Company's future expectations and all other statements in this press release other than historical facts are "forward-looking statements". Such forward-looking statements are based on numerous assumptions, and involve known and unknown risks, uncertainties and other factors, including risks inherent in mineral exploration and development, which may cause the actual results, performance, or achievements of the Company to be materially different from any projected future results, performance, or achievements expressed or implied by such forward-looking statements. Further details about the risks applicable to the Company are contained in the Company's public filings available on SEDAR (www.sedarplus.ca), under the Company's profile.
The Canadian Securities Exchange has not approved nor disapproved the content
of this press release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/245861
FAQ
What is the total debt being settled by Sixty North Gold Mining (SXNTF)?
How many shares will SXNTF issue for the March 2025 debt settlement?
What is the lock-up period for the newly issued SXNTF shares?
What period does the settled debt cover for SXNTF?
