Meryllion Announces Proposed Shares-for-Debt Settlement

Rhea-AI Summary

Meryllion Resources (CSE: MYR) has announced a proposed shares-for-debt settlement with Croesus Mining Pty , a company controlled by director David Steinepreis. The transaction aims to settle a $50,000 loan through the issuance of 2,500,000 common shares at a deemed price of $0.02 per share.

The completion of this settlement requires regulatory approvals, including from the Canadian Securities Exchange. The issued shares will be subject to a four-month and one-day hold period. As this transaction constitutes a 'related party transaction' under MI 61-101, the Company plans to rely on exemptions from valuation and minority shareholder approval requirements, as the transaction value does not exceed 25% of the Company's market capitalization.

Positive

• Debt reduction of $50,000 without cash expenditure
• Transaction value below 25% of market cap, qualifying for simplified regulatory process

Negative

• Share dilution through issuance of 2,500,000 new shares
• Related party transaction with company director may raise governance concerns

Vancouver, British Columbia--(Newsfile Corp. - April 25, 2025) - Meryllion Resources Corporation (CSE: MYR) ("Meryllion" or the "Company") announces that it intends to complete a shares-for-debt transaction with Croesus Mining Pty Ltd (a company controlled by Mr. David Steinepreis, a director of the Company) to settle an outstanding loan of $50,000 through the issuance of 2,500,000 common shares in the capital stock of Meryllion (the "Shares") at a deemed issue price of $0.02 per Share.

Completion of the debt settlement is subject to the receipt of all necessary regulatory approvals, including from the Canadian Securities Exchange (the "CSE"). The Shares to be issued will be subject to a hold period of four months and one day from the date of issuance, in accordance with applicable securities laws.

The issuance of the Shares pursuant to the shares-for-debt transaction constitutes a "related party transaction" as such term is defined by Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company expects to rely on the exemptions from the valuation and minority shareholder approval requirements for related party transactions in connection with the issuance of the Shares that are set out in sections 5.5(a) and 5.7(1)(a) of MI 61-101 as neither the fair market value (as determined under MI 61-101) of the subject matter of, nor the fair market value of the consideration for, the issuance of the Shares, exceeds 25% of the Company's market capitalization (as determined under MI 61-101).

For further information, please contact:

Mr. Richard Revelins
Director and Chief Executive Officer
Meryllion Resources Corporation

+1-310-405-4475
rrevelins@peregrinecorporate.com

Forward-Looking Statements

Information set forth in this news release may involve forward-looking statements under applicable securities laws. The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this document are made as of the date of this document and the Corporation disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. Although Management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein and accordingly undue reliance should not be put on such.

Neither 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/249771

FAQ

What are the terms of Meryllion's (MYRLF) shares-for-debt settlement announced in April 2025?

Meryllion will issue 2,500,000 common shares at $0.02 per share to settle a $50,000 loan with Croesus Mining Pty

How long is the hold period for the newly issued MYRLF shares in this debt settlement?

The shares will have a hold period of four months and one day from the date of issuance.

Why is Meryllion's (MYRLF) debt settlement considered a related party transaction?

The transaction is with Croesus Mining Pty , controlled by David Steinepreis, who is a director of Meryllion.

What regulatory approvals does MYRLF need for this shares-for-debt settlement?

The settlement requires approval from the Canadian Securities Exchange (CSE) and other necessary regulatory authorities.