Carlyle Commodities Corp. reports developments as a mineral exploration company focused on acquiring, exploring, and developing mineral resource properties in British Columbia. The company's recurring updates cover the 100%-owned Quesnel Gold Project in the Cariboo Mining Division and its option to acquire a 100% interest in the Nicola East Mining Project near Merritt.
News for CCCFF also includes field-program updates, completed property and corporate acquisitions, debt settlements involving common shares, related-party and resale-restriction disclosures, and governance changes involving finance, exploration, qualified-person, and board roles.
Carlyle Commodities Corp (CSE: CCC, FSE: BJ4, OTC: CCCFF) has issued 3,806,920 common shares at $0.05 per share to settle $190,346 in debt owed to directors and consultants for unpaid services. Additionally, the company agreed to issue 795,000 common shares at $0.05 per share to settle $39,750 in debt with a director and a consultant.
The debt settlement with insiders constitutes a related party transaction under MI 61-101 but is exempt from valuation and minority shareholder approval requirements. All issued securities will be subject to a four-month and one-day statutory hold period.
Carlyle Commodities Corp. (CSE: CCC, FSE: BJ4, OTC Pink: CCCFF) has announced a debt settlement through the issuance of shares. The company will issue 3,806,920 common shares at a deemed price of $0.05 per share to settle a total debt of $190,346. This debt is owed to certain directors and consultants for unpaid services. The transaction includes a related party component involving company insiders, which is exempt from valuation and minority shareholder approval requirements under MI 61-101. All shares issued will be subject to a four-month and one-day statutory hold period.
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