DEFENSE METALS SETTLES DEBT WITH HCF INTERNATIONAL ADVISERS THROUGH EQUITY
Defense Metals (OTCQB:DFMTF) has entered into a shares-for-debt settlement agreement with HCF International Advisers Limited to resolve outstanding debt for financial advisory services. The company will issue 988,750 common shares at $0.16 per share and 494,375 warrants to settle $158,200 in payables.
Each warrant allows HCF to purchase one additional common share at $0.21 per share within 36 months of issuance. The Settlement Shares and Warrants will have a six-month hold period. The transaction requires final TSX Venture Exchange approval.
Defense Metals (OTCQB:DFMTF) ha raggiunto un accordo di compensazione azionaria per debiti con HCF International Advisers Limited per estinguere un debito relativo a servizi di consulenza finanziaria. La società emetterà 988.750 azioni ordinarie a 0,16 USD ciascuna e 494.375 warrant per saldare 158.200 USD di debiti verso fornitori.
Ciascun warrant dà a HCF il diritto di acquistare un'ulteriore azione ordinaria a 0,21 USD per azione entro 36 mesi dall'emissione. Le Azioni di Compensazione e i Warrant saranno soggetti a un periodo di lock-up di sei mesi. L'operazione è subordinata all'approvazione finale della TSX Venture Exchange.
Defense Metals (OTCQB:DFMTF) ha firmado un acuerdo de pago con acciones por deudas con HCF International Advisers Limited para saldar una deuda por servicios de asesoría financiera. La compañía emitirá 988.750 acciones ordinarias a 0,16 USD por acción y 494.375 warrants para liquidar 158.200 USD en cuentas por pagar.
Cada warrant permite a HCF comprar una acción ordinaria adicional a 0,21 USD por acción dentro de los 36 meses desde su emisión. Las Acciones de Liquidación y los Warrants tendrán un periodo de retención de seis meses. La transacción requiere la aprobación final de la TSX Venture Exchange.
Defense Metals (OTCQB:DFMTF)가 HCF International Advisers Limited와 재무 자문 서비스 관련 미지급 채무를 해결하기 위한 주식 대 채무 합의에 합의했습니다. 회사는 미지급금 158,200달러를 상계하기 위해 주당 0.16달러에 988,750주 보통주와 494,375건의 워런트를 발행합니다.
각 워런트는 발행일로부터 36개월 이내에 HCF가 주당 0.21달러에 추가 보통주 1주를 매수할 수 있는 권리를 부여합니다. 상환 주식과 워런트는 6개월의 보호예수 기간이 적용됩니다. 거래는 최종적으로 TSX 벤처 거래소의 승인을 받아야 합니다.
Defense Metals (OTCQB:DFMTF) a conclu un accord de règlement dette-contre-actions avec HCF International Advisers Limited afin de régler une dette liée à des services de conseil financier. La société émettra 988 750 actions ordinaires à 0,16 USD chacune et 494 375 bons de souscription pour solder 158 200 USD de dettes fournisseurs.
Chaque bon permet à HCF d'acheter une action ordinaire supplémentaire à 0,21 USD par action dans les 36 mois suivant l'émission. Les actions de règlement et les bons seront soumis à une période de blocage de six mois. La transaction nécessite l'approbation finale de la TSX Venture Exchange.
Defense Metals (OTCQB:DFMTF) hat eine Schulden-gegen-Aktien-Vergleichsvereinbarung mit HCF International Advisers Limited geschlossen, um ausstehende Verbindlichkeiten für Finanzberatungsleistungen zu begleichen. Das Unternehmen wird 988.750 Stammaktien zu je 0,16 USD sowie 494.375 Warrants ausgeben, um 158.200 USD an Verbindlichkeiten zu tilgen.
Jeder Warrant berechtigt HCF, innerhalb von 36 Monaten nach Ausgabe eine weitere Stammaktie zu 0,21 USD pro Aktie zu erwerben. Die Vergleichsaktien und Warrants unterliegen einer sechsmonatigen Sperrfrist. Die Transaktion bedarf der endgültigen Genehmigung der TSX Venture Exchange.
- Debt settlement through equity preserves cash resources
- Shows confidence in company from industry advisor accepting equity instead of cash
- Warrants provide potential additional capital at $0.21 per share if exercised
- Dilution of existing shareholders through issuance of new shares
- Additional potential dilution if warrants are exercised
Pursuant to the Agreement, Defense Metals will settle an aggregate of
The Settlement Shares and Warrants will be subject to a six-month hold period in accordance with the Agreement.
Mark Tory, President & CEO of Defense Metals, commented: "We are very pleased that HCF have agreed to accept equity in return for debt under the terms agreed and disclosed here. It once again demonstrates a positive view of the Wicheeda Project from a knowledgeable and experienced industry participant as we enter the Feasibility Stage for the most advanced, undeveloped, Rare Earth Element project in
The shares-for-debt transaction and the issuance of the Settlement Shares and Warrants are subject to the final approval of the TSX Venture Exchange.
About Defense Metals Corp. and its Wicheeda REE Deposit
Defense Metals Corp. is focused on the development of its
The Wicheeda Project, approximately 80 kilometres (~50 miles) northeast of the city of
For further information, please visit www.defensemetals.com or contact:
Mark Tory
President and CEO
Tel: +1 604-445-8179
Email: mark@defensemetals.com
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.
Cautionary Statement Regarding "Forward-Looking" Information
This news release contains "forward‐looking information or statements" within the meaning of applicable securities laws, which may include, without limitation, any statements (expressed or implied) relating to: advancing the Wicheeda Project and the proposed debt settlement. Forward-looking statements are typically identified by words such as "plan," "believe," "expect," "anticipate," "intend," "outlook," "estimate," "forecast," "project," "continue," "could," "may," "might," "possible," "potential," "predict," "should," "would" and other similar words and expressions, but the absence of these words does not mean that a statement is not forward-looking. All statements in this news release, other than statements of historical facts, that address events, contribution or developments that the Company expects to occur, are forward-looking statements. Although the Company 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 the forward-looking statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of rare earth elements, the anticipated costs and expenditures, the ability to achieve its goals, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms. Such forward-looking information reflects the Company's views with respect to future events and is subject to risks, uncertainties and assumptions, including the risks and uncertainties relating to the interpretation of exploration and metallurgical results, risks related to the inherent uncertainty of exploration and development and cost estimates, the potential for unexpected costs and expenses and those other risks filed under the Company's profile on SEDAR+ (www.sedarplus.ca). While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks. Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, adverse weather and climate conditions, failure to maintain or obtain all necessary government permits, approvals and authorizations, failure to maintain or obtain community acceptance (including First Nations), risks relating to unanticipated operational difficulties (including failure of equipment or processes to operate in accordance with specifications or expectations, cost escalation, unavailability of personnel, materials and equipment, government action or delays in the receipt of government approvals, industrial disturbances or other job action, and unanticipated events related to health, safety and environmental matters), risks relating to inaccurate geological, metallurgical, engineering and pricing assumptions, decrease in the price of rare earth elements, the impact of viruses and diseases on the Company's ability to operate, restriction on labour and international travel and supply chains, loss of key employees, consultants, officers or directors, increase in costs, delayed results, litigation, and failure of counterparties to perform their contractual obligations. The Company does not undertake to update forward–looking statements or forward–looking information, except as required by law.
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SOURCE Defense Metals Corp.
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