First Tellurium Announces Debt Settlement
Investing News Network (inn)
First Tellurium Corp. has negotiated a debt settlement to resolve $300,000 in debt through the issuance of 1,500,000 common shares.Summary
First Tellurium Corp. (CSE: FTEL, OTC: FSTTF) has reached a debt settlement agreement with an arm's length creditor. As part of the agreement, the company will settle an aggregate debt of $300,000 by issuing 1,500,000 common shares at a deemed price of $0.20 per share.
In accordance with the policies of the Canadian Securities Exchange (CSE) and applicable securities laws, all shares issued through this settlement will be subject to a hold period of four months and one day from the date of issuance. The company, which focuses on tellurium-based technologies and mineral discovery, announced the development through its President and CEO, Tyrone Docherty.
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