Search Minerals Inc. Announces Closing of Settlement with Certain Creditors

Rhea-AI Summary

Search Minerals Inc. (TSXV: SMY | OTC: SHCMF) has successfully completed a debt settlement agreement with certain creditors. The company issued 203,688 common shares to settle a debt of $100,000 (less applicable tax withholdings). The shares were issued on August 11, 2025, and are subject to a four-month hold period as per securities regulations.

This settlement follows the company's previous announcement on July 15, 2025, and has received approval from the TSX Venture Exchange. With this share issuance, the debt has been fully settled and extinguished.

Positive

• Successful debt settlement of $100,000 through equity issuance
• Received TSX Venture Exchange approval for the settlement

Negative

• Dilution of existing shareholders through issuance of 203,688 new shares

News Market Reaction – SHCMF

-7.11%

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-7.11% News Effect

On the day this news was published, SHCMF declined 7.11%, reflecting a notable negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

St. Lewis, Newfoundland and Labrador--(Newsfile Corp. - August 11, 2025) -  Search Minerals Inc. (TSXV: SMY) (OTC Pink: SHCMF) (the "Company") announced today that further to the Company's press release of July 15, 2025, the Company has received the approval of the TSX Venture Exchange to settle $100,000 (less applicable tax withholdings) in debt owing to certain creditors (the "Debt") through the issuance of 203,688 common shares of the Company (the "Shares"). The Shares were issued on August 11, 2025, and are subject to a four-month hold period in accordance with applicable securities laws.

Following the issuance of the Shares, the Debt is now settled and extinguished.

FOR FURTHER INFORMATION PLEASE CONTACT:

Joseph Lanzon
CEO and Director
Tel: 613-796-5957
E-mail: info@searchminerals.ca

Neither the 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/262038

FAQ

What is the debt settlement amount announced by Search Minerals (SHCMF) on August 11, 2025?

Search Minerals settled $100,000 in debt (less applicable tax withholdings) through the issuance of 203,688 common shares.

How many shares did Search Minerals (SHCMF) issue for the debt settlement?

Search Minerals issued 203,688 common shares to settle the debt with certain creditors.

When will the newly issued Search Minerals (SHCMF) shares be freely tradeable?

The shares are subject to a four-month hold period in accordance with applicable securities laws from the issuance date of August 11, 2025.

Which exchange approved Search Minerals' (SHCMF) debt settlement?

The TSX Venture Exchange approved the debt settlement transaction.