Troy Minerals Announces Debt Settlement

Rhea-AI Summary

Troy Minerals (OTCQB:TROYF) intends to settle $348,000 of outstanding indebtedness by issuing 2,784,000 common shares at a deemed price of $0.125 per share. The company said the settlement preserves cash for working capital and reduces liabilities, subject to customary closing conditions and regulatory approvals.

All securities will carry a four-month hold period under Canadian securities law.

Positive

• $348,000 of debt to be extinguished via share issuance
• Preserves cash for working capital by avoiding cash repayment
• 2,784,000 shares issued instead of cash improves near-term liquidity

Negative

• Issuance of 2,784,000 common shares may dilute existing shareholders
• Settlement subject to regulatory approvals and customary closing conditions

VANCOUVER, BC / ACCESS Newswire / January 27, 2026 / Troy Minerals Inc. ("Troy" or the "Company") (CSE:TROY)(OTCQB:TROYF)(FSE:VJ3) announces that it intends to settle outstanding indebtedness in the amount of $348,000 owed to certain creditors in exchange for the issuance of a total of 2,784,000 common shares of the Company at a deemed price of $0.125 per share.

The Company intends to complete the debt settlement to preserve the Company's cash for working capital and improve its financial position by reducing its existing liabilities. The debt settlement is expected to close shortly, subject to customary closing conditions, including, but not limited to, finalizing all contractual documentation and receipt of all applicable regulatory approvals, as applicable, including compliance with the policies of the Canadian Securities Exchange.

All securities issued under the debt settlement will be subject to a four-month hold period in accordance with Canadian securities law.

ON BEHALF OF THE BOARD,

Rana Vig | CEO and Director
Telephone: 604-218-4766
rana@ranavig.com

Forward-Looking Statements

Certain information contained herein constitutes "forward-looking information" under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "will" or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are from those expressed or implied by such forward-looking statements or forward-looking information subject to known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different, including receipt of all necessary regulatory approvals. Although management of the Company have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.

The Canadian Securities Exchange has not reviewed this press release and does not accept responsibility for the adequacy or accuracy of this news release.

SOURCE: Troy Minerals Inc.

View the original press release on ACCESS Newswire

FAQ

What debt did Troy Minerals (TROYF) agree to settle on January 27, 2026?

Troy Minerals agreed to settle $348,000 of outstanding indebtedness by issuing shares. According to the company, the settlement converts the debt into 2,784,000 common shares at a deemed price of $0.125 per share.

How many shares will Troy Minerals (TROYF) issue in the debt settlement and at what price?

The company will issue 2,784,000 common shares at a deemed price of $0.125 per share. According to the company, this share issuance replaces the $348,000 owed to creditors.

Why is Troy Minerals (TROYF) settling debt with shares instead of cash?

The direct reason is to preserve cash for working capital and improve the balance sheet. According to the company, converting $348,000 of liabilities to equity preserves cash and reduces existing liabilities pending approvals.

Are the shares issued in Troy Minerals' (TROYF) debt settlement restricted from trading?

Yes. All securities issued under the debt settlement will be subject to a four-month hold period. According to the company, this hold period is in accordance with Canadian securities law and applicable exchange policies.

When will the Troy Minerals (TROYF) debt settlement close and what approvals are needed?

The debt settlement is expected to close shortly, subject to customary closing conditions. According to the company, final contractual documentation and applicable regulatory approvals, including Canadian Securities Exchange compliance, are required.