Metalite Resources Inc. (OTC: JNCCF) has successfully completed its previously announced shares-for-debt settlement transaction. The company issued 5,749,576 common shares to settle an aggregate debt of $126,490.69 owed to three arm's length consultants. The Settlement Shares were issued at a deemed price of $0.022 per share and are subject to a four-month hold period, expiring on September 21, 2025. The shares were issued under prospectus exemptions according to Canadian securities laws.
Metalite Resources Inc. (OTC: JNCCF) ha completato con successo la sua precedente operazione di regolamento debiti in azioni. La società ha emesso 5.749.576 azioni ordinarie per estinguere un debito complessivo di 126.490,69 $ nei confronti di tre consulenti indipendenti. Le azioni di regolamento sono state emesse a un prezzo nominale di 0,022 $ per azione e sono soggette a un periodo di blocco di quattro mesi, che scade il 21 settembre 2025. Le azioni sono state emesse in base alle esenzioni dal prospetto previste dalle leggi canadesi sui titoli.
Metalite Resources Inc. (OTC: JNCCF) ha completado con éxito su transacción previamente anunciada de liquidación de deuda mediante acciones. La compañía emitió 5,749,576 acciones comunes para saldar una deuda total de $126,490.69 adeudada a tres consultores independientes. Las acciones de liquidación se emitieron a un precio considerado de $0.022 por acción y están sujetas a un periodo de retención de cuatro meses, que vence el 21 de septiembre de 2025. Las acciones fueron emitidas bajo exenciones de prospecto conforme a las leyes de valores canadienses.
Metalite Resources Inc. (OTC: JNCCF)는 이전에 발표한 채무 대 주식 합의 거래를 성공적으로 완료했습니다. 회사는 세 명의 독립 컨설턴트에게 총 126,490.69 달러의 채무를 상환하기 위해 5,749,576 보통주를 발행했습니다. 합의 주식은 주당 0.022 달러의 인정 가격으로 발행되었으며, 2025년 9월 21일에 만료되는 4개월의 보호 기간이 적용됩니다. 이 주식들은 캐나다 증권법에 따른 설명서 면제 조건 하에 발행되었습니다.
Metalite Resources Inc. (OTC : JNCCF) a finalisé avec succès sa transaction de règlement dette contre actions précédemment annoncée. La société a émis 5 749 576 actions ordinaires pour régler une dette totale de 126 490,69 $ due à trois consultants indépendants. Les actions de règlement ont été émises à un prix réputé de 0,022 $ par action et sont soumises à une période de blocage de quatre mois, expirant le 21 septembre 2025. Les actions ont été émises en vertu d'exemptions de prospectus conformément aux lois canadiennes sur les valeurs mobilières.
Metalite Resources Inc. (OTC: JNCCF) hat seine zuvor angekündigte Schuld-gegen-Aktien-Abwicklung erfolgreich abgeschlossen. Das Unternehmen hat 5.749.576 Stammaktien ausgegeben, um eine Gesamtschuld von 126.490,69 $ gegenüber drei unabhängigen Beratern zu begleichen. Die Abwicklungsaktien wurden zu einem angenommenen Preis von 0,022 $ pro Aktie ausgegeben und unterliegen einer viermonatigen Sperrfrist, die am 21. September 2025 endet. Die Aktien wurden gemäß den kanadischen Wertpapiergesetzen unter Prospektausnahmen ausgegeben.
Positive
Debt reduction of $126,490.69 through equity issuance, improving the company's balance sheet
Settlement with consultants helps preserve cash resources
Negative
5,749,576 new shares issuance leads to dilution of existing shareholders
Low share price of $0.022 indicates potential market concerns
Toronto, Ontario--(Newsfile Corp. - May 20, 2025) - Metalite Resources Inc. (CSE: METL) (OTC Pink: JNCCF) (FSE: D68) ("Metalite" or the "Company") is pleased to announce that it has completed the previously announced shares for debt transactions to settle an aggregate of $126,490.69 of indebtedness owing to three arm's length consultants.
Pursuant to the shares for debt settlements a total of 5,749,576 common shares in the capital of Metalite ("Settlement Shares") were issued at a deemed price of $0.022 per share.
The Settlement Shares were issued subject to prospectus exemptions available pursuant to Canadian securities laws and subject to a four month hold period expiring on the date that is four months and a day following the issuance, being September 21, 2025.
About Metalite Resources Inc.
Metalite Resources Inc. is a Canadian junior mineral exploration issuer with a precious metals focused project in NSW, Australia.
Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release, and have in no way passed upon the merits of the proposed transactions and has neither approved nor disapproved the contents of this news release.
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