Newfoundland Discovery Announces Debt Settlement Transaction
Newfoundland Discovery Corp. will settle CAD$414,000 in debt by issuing units priced at $0.09 each.Summary
Newfoundland Discovery Corp. announced a debt settlement agreement with creditors to resolve CAD$414,000 in outstanding debt. The company will issue units at a price of $0.09 per unit, with each unit consisting of one common share and one transferable share purchase warrant. Each warrant is exercisable for one additional share at $0.12 for four years. The securities issued are subject to a four-month hold period and CSE approval. The company notes that these securities are not registered under the U.S. Securities Act of 1933 and cannot be offered or sold in the United States without registration or an exemption. Newfoundland Discovery Corp. is a Canadian junior mining exploration company focused on mineral assets in Canada, including lithium prospects in Ontario and precious/base metal projects in Newfoundland.
(Source：Investing News Network (inn))