Nortec Completes Debt Settlement
Nortec Minerals has received approval to settle $57,500 in debt by issuing 1,150,000 common shares, strengthening its financial position.Summary
Nortec Minerals CORP. announced the approval of a debt settlement with the TSX Venture Exchange, resolving CAD$57,500 in indebtedness through the issuance of 1,150,000 common shares at a price of CAD$0.05 per share. CEO Ryan Hrkac stated that this settlement, combined with recent financings totaling $858,000, provides a “solid footing” for advancing the company’s gold projects in Ontario and Nevada. Nortec is focused on identifying and developing high-potential gold and copper properties, currently holding interests in projects in Ontario, Canada, and Nevada, U.S.A., including the Sturgeon Lake VMS, Mattagami River Zinc, Tammela Gold, Barker Bay Gold, and Pearl Gold projects. The shares issued as part of the debt settlement are subject to a four-month and one-day hold period. The press release also includes standard cautionary language regarding forward-looking statements and associated risks.
(Source：Investing News Network (inn))