York Harbour Metals Announces Share for Debt Settlement
York Harbour Metals (TSXV: YORK) (OTC Pink: YORKF) has announced a share-for-debt settlement to address outstanding indebtedness of CAD$330,616.38. The company plans to issue 4,723,088 common shares at a deemed price of $0.07 per share to settle debts with arm's length third parties and three company directors. Of this, CAD$87,812.50 or 1,254,463 shares will be issued to the directors. This decision aims to preserve cash for operations. The transaction is subject to TSX Venture Exchange approval, and all issued shares will have a four-month and one-day hold period.
York Harbour Metals (TSXV: YORK) (OTC Pink: YORKF) ha annunciato un accordo di liquidazione azionaria per debito per affrontare un indebitamento residuo di CAD$330,616.38. L'azienda prevede di emettere 4,723,088 azioni ordinarie ad un prezzo presunto di $0.07 per azione per saldare debiti con terzi non correlati e tre direttori dell'azienda. Di questo, CAD$87,812.50 o 1,254,463 azioni saranno emesse ai direttori. Questa decisione mira a preservare liquidità per le operazioni. La transazione è soggetta all'approvazione della Borsa TSX Venture, e tutte le azioni emesse avranno un periodo di blocco di quattro mesi e un giorno.
York Harbour Metals (TSXV: YORK) (OTC Pink: YORKF) ha anunciado un acuerdo de liquidación de acciones por deuda para abordar una deuda pendiente de CAD$330,616.38. La empresa planea emitir 4,723,088 acciones ordinarias a un precio considerado de $0.07 por acción para liquidar deudas con partes independientes y tres directores de la empresa. De esto, CAD$87,812.50 o 1,254,463 acciones se emitirán a los directores. Esta decisión tiene como objetivo preservar efectivo para las operaciones. La transacción está sujeta a la aprobación de la Bolsa TSX Venture, y todas las acciones emitidas tendrán un periodo de retención de cuatro meses y un día.
요크 항구 금속 (TSXV: YORK) (OTC Pink: YORKF)는 부채를 상환하는 주식 거래를 발표하여 CAD$330,616.38의 미결제 부채를 해결했습니다. 이 회사는 4,723,088주의 보통주를 주당 $0.07의 주당 가격으로 발행할 계획입니다. 이는 독립적인 제3자 및 세 명의 회사 이사와의 부채를 정산하기 위한 것입니다. 이 중 CAD$87,812.50 또는 1,254,463주가 이사들에 발행됩니다. 이 결정은 운영을 위한 현금을 보존하는 것을 목표로 합니다. 이 거래는 TSX 벤처 거래소의 승인을 받아야 하며, 발행된 모든 주식은 4개월 1일의 보유 기간이 있습니다.
York Harbour Metals (TSXV: YORK) (OTC Pink: YORKF) a annoncé un règlement d'actions pour dettes afin de traiter une dette en cours de CAD$330,616.38. L'entreprise prévoit d'émettre 4,723,088 actions ordinaires à un prix estimé de $0.07 par action pour régler des dettes envers des tiers indépendants et trois directeurs de la société. De ce montant, CAD$87,812.50 ou 1,254,463 actions seront émises aux directeurs. Cette décision vise à préserver des liquidités pour les opérations. La transaction est soumise à l'approbation de la Bourse TSX Venture, et toutes les actions émises auront une période de blocage de quatre mois et un jour.
York Harbour Metals (TSXV: YORK) (OTC Pink: YORKF) hat eine Aktientransaktion zur Begleichung von Schulden angekündigt, um eine ausstehende Verschuldung von CAD$330,616.38 zu decken. Das Unternehmen plant die Ausgabe von 4,723,088 Stammaktien zu einem angenommenen Preis von $0.07 pro Aktie, um Schulden gegenüber unabhängigen Dritten und drei Unternehmensdirektoren zu begleichen. Davon werden CAD$87,812.50 oder 1,254,463 Aktien an die Direktoren ausgegeben. Diese Entscheidung zielt darauf ab, Liquidität für die Betriebe zu erhalten. Die Transaktion steht unter Vorbehalt der Genehmigung der TSX Venture Exchange, und alle ausgegebenen Aktien unterliegen einer Haltedauer von vier Monaten und einem Tag.
- Preserves cash for operations by settling debt with shares
- Reduces outstanding indebtedness by CAD$330,616.38
- Potential dilution of existing shareholders' equity due to issuance of 4,723,088 new shares
- Transaction includes debt settlement with company directors, which may raise governance concerns
Vancouver, British Columbia--(Newsfile Corp. - August 21, 2024) - York Harbour Metals Inc. (TSXV: YORK) (OTC Pink: YORKF) (FSE: 5DE) (the "Company" or "York"), has entered into debt settlement agreements with arm's length third parties and three directors of the Company (the "Creditors") pursuant to which the Company has agreed to issue an aggregate of 4,723,088 common shares (each, a "Share") at a deemed price of
The Company determined to satisfy this outstanding indebtedness with Shares to preserve its cash for operations. The Transaction is subject to TSX Venture Exchange approval. All Shares issued pursuant to the Transaction will be subject to a four-month and one-day hold period.
About York Harbour Metals
York Harbour Metals Inc. (TSXV: YORK) (OTC Pink: YORKF) (FSE: 5DE) is an exploration and development company with two high-grade projects in Newfoundland, Canada. The York Harbour Copper-Zinc-Silver Project is located approximately 27 km from Corner Brook. Recently, the Company entered into an option agreement with Firetail Resources (an Australian-listed company) to earn a
The Bottom Brook Rare Earth Elements Project, covering 15,150 hectares, is located next to the Trans-Canada Highway and just 27 km from the deep-water port at Turf Point, Newfoundland.
For further details on York Harbour Metals, please contact us via email at info@yorkharbourmetals.com or call +1-778-302-2257. Visit the Company's website at www.yorkharbourmetals.com for past news releases, media interviews, and opinion-editorial pieces by management.
On Behalf of the Board of Directors,
"Blair Naughty"
CEO and President
Email: info@yorkharbourmetals.com
Phone: 778-302-2257
Website: https://yorkharbourmetals.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 news release.
Cautionary Statement Regarding Forward-Looking Information
This news release may contain "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian securities legislation. All information contained herein that is not historical in nature may constitute forward-looking information. Forward-looking statements herein include but are not limited to statements relating to the prospects for the development of the Company's mineral properties, and are necessarily based upon a number of assumptions that, while considered reasonable by management, are inherently subject to business, market and economic risks, uncertainties and contingencies that may cause actual results, performance or achievements to be materially different from those expressed or implied by forward-looking statements. Except as required by law, the Company disclaims any obligation to update or revise any forward-looking statements. Readers are cautioned not to put undue reliance on these forward-looking statements.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/220758
FAQ
What is the total value of debt being settled by York Harbour Metals (YORKF)?
How many shares will York Harbour Metals (YORKF) issue for the debt settlement?
What is the deemed price per share for York Harbour Metals' (YORKF) debt settlement?
When will the shares issued by York Harbour Metals (YORKF) for debt settlement be freely tradable?
