Atomic Minerals to Proceed with Debt Settlement Transaction
- The debt settlement agreement involves issuing 400,000 common shares at $0.06 per share to settle a total debt of CAD$24,000.
- The company chose to settle the debt with shares to preserve cash for operations.
- The transaction is subject to TSX Venture Exchange approval.
- All shares issued as part of the transaction will be under a four-month and one-day hold period.
- None.
Vancouver, British Columbia--(Newsfile Corp. - April 23, 2024) - Atomic Minerals Corporation (TSXV: ATOM) ("ATOMIC MINERALS" or the "Company") announces that it has entered into debt settlement agreement with an arm's length third party of the Company, pursuant to which the Company has agreed to issue an aggregate of 400,000 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 the Company
Atomic Minerals is a Vancouver based publicly listed uranium exploration company trading on the TSX Venture Exchange, with current assets in Saskatchewan's Athabasca Basin and the Four Corners region of the southwest United States. The Company is led by a highly skilled management and technical team with numerous previous successes in the junior mining sector.
For additional information, please visit the Company's website at www.atomicminerals.ca.
ON BEHALF OF THE BOARD OF DIRECTORS
"Clive Massey"
Clive H. Massey
President & CEO
For further information, please contact:
(604) 341-6870
Neither TSX Venture Exchange nor their 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 release.
Forward-Looking Statements:
This news release contains certain statements that may be deemed "forward-looking" statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although Atomic Minerals Corporation believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of Atomic Minerals Corporation management on the date the statements are made. Except as required by law, Atomic Minerals Corporation undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/206630
FAQ
What is the debt settlement agreement announced by Atomic Minerals (TSXV: ATOM)?
Why did Atomic Minerals choose to settle the debt with shares?
What is the status of the transaction announced by Atomic Minerals ?
What will happen to the shares issued as part of the debt settlement transaction?
