Sylla Gold Announces Loans
Sylla Gold Corp (TSXV: SYG) (OTCQB: SYGCF) has announced the issuance of unsecured non-interest bearing promissory notes totaling $97,500. The notes were issued to both arm's length and non-arm's length creditors, including company directors and officers, making this a related party transaction. The principal amounts will be used for general working capital purposes and are payable upon demand.
The transaction requires TSX Venture Exchange approval and falls under MI 61-101 regulations. The company is exempt from valuation and minority shareholder approval requirements as it's not listed on a specified market and the insider-held notes don't exceed 25% of market capitalization. Sylla expedited the closing process, foregoing the standard 21-day material change report filing period.
Sylla Gold Corp (TSXV: SYG) (OTCQB: SYGCF) ha annunciato l'emissione di cambiali non garantite e senza interessi per un totale di $97,500. Le cambiali sono state emesse a creditori sia di mercato che non di mercato, inclusi i direttori e funzionari della società, rendendo questa un'operazione con parti correlate. Gli importi principali saranno utilizzati per le spese generali di funzionamento e sono pagabili a richiesta.
L'operazione richiede l'approvazione della Borsa di Toronto Venture e rientra sotto le normative MI 61-101. La società è esente dai requisiti di valutazione e approvazione degli azionisti di minoranza poiché non è quotata in un mercato specificato e le cambiali detenute dagli insider non superano il 25% della capitalizzazione di mercato. Sylla ha accelerato il processo di chiusura, rinunciando al consueto periodo di deposito del rapporto di cambiamento materiale di 21 giorni.
Sylla Gold Corp (TSXV: SYG) (OTCQB: SYGCF) ha anunciado la emisión de notas promisorios no garantizadas y sin intereses por un total de $97,500. Las notas se emitieron tanto a acreedores independientes como relacionados, incluidos directores y funcionarios de la empresa, lo que convierte esto en una transacción con partes relacionadas. Las cantidades principales se utilizarán para fines generales de capital de trabajo y son pagaderas a demanda.
La transacción requiere la aprobación de la Bolsa de Valores de Toronto y se rige por las regulaciones MI 61-101. La empresa está exenta de los requisitos de valoración y aprobación de accionistas minoritarios, ya que no está listada en un mercado específico y las notas en manos de los insiders no superan el 25% de la capitalización de mercado. Sylla aceleró el proceso de cierre, renunciando al plazo estándar de 21 días para el depósito del informe de cambio material.
Sylla Gold Corp (TSXV: SYG) (OTCQB: SYGCF)가 총 $97,500에 달하는 무담보 무이자 약속어음을 발행했다고 발표했습니다. 이 어음은 회사의 이사 및 임원 등을 포함한 시장 외 및 시장 내 채권자에게 발행되어 관계 당사자 거래가 되었습니다. 원금은 일반 운전 자본 목적으로 사용되며, 요구 시 지급됩니다.
이번 거래는 TSX 벤처 거래소의 승인을 받아야 하며 MI 61-101 규정에 따라야 합니다. 회사는 특정 시장에 상장되지 않았고 내부자가 보유한 어음이 시장 자본의 25%를 초과하지 않기 때문에 평가 및 소수 주주 승인 요구 사항에서 면제됩니다. Sylla는 21일의 표준 자료 변경 보고서 제출 기간을 포기하고 종료 프로세스를 신속히 진행했습니다.
Sylla Gold Corp (TSXV: SYG) (OTCQB: SYGCF) a annoncé l'émission de billets à ordre non garantis et sans intérêt totalisant $97,500. Les billets ont été émis à la fois à des créanciers indépendants et non indépendants, y compris des directeurs et des agents de la société, ce qui rend cette opération une transaction avec partie liée. Les montants principaux seront utilisés à des fins de fonds de roulement général et sont payables sur demande.
La transaction nécessite l'approbation de la Bourse de Toronto-Venture et est régie par la réglementation MI 61-101. La société est exemptée des exigences de valorisation et d'approbation des actionnaires minoritaires, car elle n'est pas cotée sur un marché spécifique et les billets détenus par des initiés ne dépassent pas 25 % de la capitalisation boursière. Sylla a accéléré le processus de clôture, renonçant à la période standard de 21 jours pour le dépôt du rapport de changement matériel.
Sylla Gold Corp (TSXV: SYG) (OTCQB: SYGCF) hat die Ausgabe von unbesicherten, zinslosen Schuldscheinen im Gesamtbetrag von $97,500 bekannt gegeben. Die Scheine wurden sowohl an unabhängige als auch an verbundene Gläubiger, einschließlich der Direktoren und Führungskräfte des Unternehmens, ausgegeben, was diese zu einer Transaktion mit nahestehenden Personen macht. Die Hauptbeträge werden für allgemeine Betriebskapitalzwecke verwendet und sind auf Abruf fällig.
Die Transaktion erfordert die Genehmigung der TSX Venture Exchange und fällt unter die Vorschriften MI 61-101. Das Unternehmen ist von der Bewertungs- und Genehmigungspflicht für Minderheitsaktionäre befreit, da es nicht an einem bestimmten Markt gelistet ist und die von Insidern gehaltenen Scheine nicht mehr als 25 % der Marktkapitalisierung ausmachen. Sylla hat den Abschlussprozess beschleunigt und auf die standardmäßige 21-tägige Frist für die Einreichung des materiellen Änderungsberichts verzichtet.
- Zero interest bearing on the promissory notes, reducing debt service costs
- Company requires immediate working capital through debt issuance
- Related party transaction involving company insiders
- Notes payable on demand, creating potential short-term liability risk
Bedford, Nova Scotia--(Newsfile Corp. - February 7, 2025) - Sylla Gold Corp. (TSXV: SYG) (OTCQB: SYGCF) ("Sylla" or the "Company") announces it has issued unsecured non-interest bearing promissory notes (the "Promissory Notes") in the aggregate of
The Promissory Notes remain subject to receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange.
The issuance of the Promissory Notes constitutes a related party transaction within the meaning of TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101") as certain Creditors are directors and/or officers of the Company. The Company is relying on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(b) and 5.7(1)(a) of MI 61-101, as the Company is not listed on a specified market and the Principal Amount of the Promissory Notes held by the insiders do not exceed
This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons as defined under applicable United States securities laws unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
For more information, please contact:
Regan Isenor
President and Chief Executive Officer
Tel: (902) 233-4381
Email: risenor@syllagold.com
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.
Certain statements contained in this news release constitute forward-looking information under applicable Canadian, United States and other applicable securities laws, rules and regulations, including, without limitation, statements with respect to the completion of the Acquisition, the conditions to the completion of the Acquisition that must be fulfilled and the anticipated benefits and advantages of the Acquisition. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on The Company's current beliefs or assumptions as to the outcome and timing of such future events. There can be no assurance that such statements will prove to be accurate, as the Company's actual results and future events could differ materially from those anticipated in these forward-looking statements. Factors that could cause actual results and future events to differ materially from those anticipated in these forward-looking statements include the risks, uncertainties and other factors and assumptions made with regard to the Companie's ability to complete the proposed Acquisition; the Companie's ability to secure the necessary legal and regulatory approvals required to complete the Acquisition and the estimated costs associated with the advancement of the Property. Important factors that could cause actual results to differ materially from the Companie's expectations include risks associated with the business of the Company; risks related to the satisfaction or waiver of certain conditions to the closing of the Acquisition; non-completion of the Acquisition; risks related to exploration and potential development of the Property; business and economic conditions in the mining industry generally; the impact of COVID-19 on the Companies' business; fluctuations in commodity prices and currency exchange rates; uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; the need for cooperation of government agencies and indigenous groups in the exploration and development of properties and the issuance of required permits; the need to obtain additional financing to develop properties and uncertainty as to the availability and terms of future financing; the possibility of delay in exploration or development programs and uncertainty of meeting anticipated program milestones; uncertainty as to timely availability of permits and other governmental approvals; and other risk factors as detailed from time to time and additional risks identified in the Company's filings with Canadian securities regulators on SEDAR+ in Canada (available at www.sedarplus.ca).. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to the Company. The forward-looking information contained in this news release is made as of the date hereof and the Company undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/240082
FAQ
What is the total value of promissory notes issued by Sylla Gold (SYGCF) in February 2024?
What are the terms of SYGCF's February 2024 promissory notes?
How will Sylla Gold (SYGCF) use the proceeds from the promissory notes?
Why is SYGCF's promissory note issuance considered a related party transaction?
