Carlyle Announces Share Issuances to Consultant and Debt Settlement

Rhea-AI Summary

Carlyle Commodities Corp. has issued a total of 415,117 common shares to a consultant as payment for services rendered. The shares were issued at prices ranging from $0.068 to $0.244 per share. Additionally, the company will issue 500,000 shares at $0.10 per share to settle a debt of $50,000. All securities issued will be subject to a hold period of four months and one day.

Vancouver, British Columbia--(Newsfile Corp. - June 9, 2023) - CARLYLE COMMODITIES CORP. (CSE: CCC) (FSE: BJ4) (OTCQB: CCCFF) ("Carlyle" or the "Company") announces that it has issued an aggregate of 415,117 common shares in the capital of the Company (each, a "Share") to a consultant engaged by the Company, as follows:

Date of Issue	No. of Shares	Deemed Price per Share
January 27, 2023	61,538	$0.244
April 10, 2023	98,765	$0.101
May 12, 2023	106,666	$0.094
June 9, 2023	148,148	$0.068
Total:	415,117

 

The Shares being issued are payment for the services rendered by the consultant at a price per Share equal to the lowest permitted price by the applicable policies of the Canadian Securities Exchange. Accordingly, the Shares were issued pursuant to the prospectus exemption provided under Section 2.24 of National Instrument 45-106 - Prospectus Exemptions. The Shares issued have a hold period of four months and a day from issuance.

The Company also announces that it has agreed to issue 500,000 Shares at a deemed price of $0.10 per Share to a consultant of the Company as full and final payment of debt in the aggregate amount of $50,000 (the "Debt Settlement"), to settle certain amounts owed by the Company.

All securities issued in connection with the Debt Settlement will be subject to a statutory hold period expiring four months and one day after the date of issuance as set out in National Instrument 45‐102 -Resale of Securities.

About Carlyle

Carlyle is a mineral exploration company focused on the acquisition, exploration, and development of mineral resource properties. Carlyle owns 100% of the Newton Project in the Clinton Mining Division of B.C. and is listed on the CSE under the symbol "CCC", on the OTCQB Market under the ticker CCCFF, and on the Frankfurt Exchange under the ticker BJ4.

ON BEHALF OF THE BOARD OF DIRECTORS OF

CARLYLE COMMODITIES CORP.

"Morgan Good"

Morgan Good
Chief Executive Officer

For more information regarding this news release, please contact:

Morgan Good, CEO and Director
T: 604-715-4751
E: morgan@carlylecommodities.com
W: www.carlylecommodities.com

Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE accepts responsibility for the adequacy or accuracy of this release).

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/169529

FAQ

What is the name of the company mentioned in the press release?

The company mentioned in the press release is Carlyle Commodities Corp.

How many common shares were issued to the consultant?

A total of 415,117 common shares were issued to the consultant.

What was the price range of the shares issued to the consultant?

The shares were issued at prices ranging from $0.068 to $0.244 per share.

What is the purpose of issuing the shares?

The shares were issued as payment for services rendered by the consultant and to settle a debt.

What is the hold period for the shares issued?

The shares have a hold period of four months and one day.

How many shares will be issued to settle the debt?

The company will issue 500,000 shares to settle a debt of $50,000.