|
| Home : Mukuba Resources Limited Announces Debt Settlement |
|
Jun 21
2015 |
Mukuba Resources Limited Announces Debt Settlement |
|
TORONTO, ONTARIO--(Marketwired - June 19, 2015) - Mukuba Resources Limited ("Mukuba" or the "Company") (TSX VENTURE:MKU) reports that it has reached agreements to settle an aggregate of $661,407.10 of debt owed to certain insiders of the Company and other parties in consideration for the issuance of 13,228,142 common shares of the Company at a deemed price of $0.05 per share pursuant to the minimum pricing rules of the NEX board of the TSX Venture Exchange (the "Exchange"). Current insiders comprise $299,272.85 of the debt settled. In addition, certain insiders have released the Company from debts totalling $42,000 for nominal consideration. The indebtedness to be settled or released relates to professional and consulting services. The disinterested directors of the Company have approved the debt settlements with the respective insiders and their associates and affiliates. The debt settlement is subject to Exchange approval. The securities to be issued will be subject to a hold period of four months and one day. |
|
|
|
| Source:http://www.marketwired.com/mw/release.do?id=2031495&sourceType=3 |
| |
|
Related News
|
» Virginia Hills Oil Corp. Announces Issuance of Warrants to Lenders
» Kitrinor Receives Loan
|
|
|
