Paradigm Gold Announces Shares for Debt Settlement

Rhea-AI Summary

Paradigm Gold (NKLXF) entered a debt settlement on March 18, 2026 to extinguish $357,221.21 of accrued royalty-related debt by issuing 2,857,769 common shares at $0.125 per share. The settlement is subject to TSX Venture Exchange acceptance and a four-month-and-one-day hold.

The company also closed a private placement that raised gross proceeds of $520,520 (no further tranches) and terminated an earlier option to acquire interests in four North Thompson Nickel Belt projects.

Positive

• Debt of $357,221.21 settled through share issuance
• Private placement closed for $520,520 in gross proceeds

Negative

• Issuance of 2,857,769 shares at $0.125 causes shareholder dilution
• Debt settlement subject to TSX Venture Exchange acceptance

Vancouver, British Columbia--(Newsfile Corp. - March 18, 2026) - Paradigm Gold Corporation (TSXV: PDQ) ("Paradigm" or the "Company") has entered into a debt settlement agreement to settle a debt of $357,221.21 by the issuance of 2,857,769 common shares at a price of $0.125 per share. The debt was incurred as a result of annual advance minimum royalty payments on the Swift Katie property that had accrued over the last five years. This debt settlement is subject to TSX Venture Exchange acceptance. The securities that will be issued upon this debt settlement will be subject to a hold period of four months and one day from issuance.

The Company recently announced the closing of the first tranche of a private placement raising gross proceeds of $520,520. The private placement has been concluded and there will be no further tranches.

Paradigm has decided not to proceed with the option to acquire interests in four projects in the North Thompson Nickel Belt, Manitoba (see news release dated October 17, 2023) and has terminated the option agreement.

About Paradigm Gold

With an experienced management and exploration team having a history of success throughout North America in the identification and development of precious metal deposits, Paradigm Gold is aggressively pursuing quality projects to increase shareholder value. Currently, the Company's flagship property is the 100% owned, Swift-Katie Cu/Au project, located in the Golden Arc, BC, with year-round access and excellent infrastructure.

On behalf of the Board of Directors,

"Lawrence Page"

Lawrence Page, Director & Chairman, Paradigm Gold Corporation

For further information, please contact us at 604.641.2759 or by email at corpdev@mnxltd.com.

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

This news release includes certain statements that may be deemed "forward-looking statements". All statements in this news release, other than statements of historical facts, are forward-looking statements. Forward-looking statements in this news release include plans to complete the debt settlement. 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 or developments may differ materially from those forward-looking statements. These statements are based on a number of assumptions including, among other things, assumptions that TSX Venture Exchange approval will be granted in a timely manner subject only to standard conditions; that all conditions precedent to the completion of debt settlement will be satisfied in a timely manner; and the ability of third-party service providers to deliver services in a timely manner. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether because of new information, future events or otherwise, except as required by applicable law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/288949

FAQ

What debt did Paradigm Gold (NKLXF) settle on March 18, 2026?

Paradigm Gold settled $357,221.21 of accrued royalty-related debt by issuing shares. According to the company, this debt came from five years of minimum royalty advances on the Swift Katie property.

How many shares will Paradigm Gold (NKLXF) issue to settle the debt?

The company will issue 2,857,769 common shares at $0.125 per share to settle the debt. According to the company, the issuance is subject to TSX Venture Exchange acceptance and a hold period.

Does Paradigm Gold (NKLXF) still expect more private placement tranches?

No, Paradigm Gold indicated there will be no further tranches after closing the first tranche. According to the company, the private placement raised gross proceeds of $520,520 and is concluded.

What is the holding restriction on the shares issued by Paradigm Gold (NKLXF)?

Shares issued in the debt settlement will be subject to a four-month-and-one-day hold period from issuance. According to the company, this restriction applies once the securities are issued and accepted by the exchange.

What happened to Paradigm Gold's option on North Thompson Nickel Belt projects?

Paradigm Gold decided not to proceed and has terminated the option agreement on four North Thompson Nickel Belt projects. According to the company, this follows its reassessment of the earlier option arrangement.