Supreme Critical Metals Inc. Announces Update to Debt Settlements
Rhea-AI Summary
Supreme Critical Metals Inc. (CSE:CRIT, OTC:VRCFF) has updated its debt settlement terms, amending the share issue price to $0.13. The company will issue 5,749,169 common shares to settle a total debt of $747,392. Of these shares, 1,190,769 will be issued to four directors and officers as part of a related party transaction. The shares will be subject to a 4-month restricted hold period and exchange approval. The company is utilizing exemptions under MI 61-101 as the fair market value of the shares being issued represents less than 25% of the company's market capitalization.
Positive
- Debt reduction of $747,392 through share issuance
- No immediate cash outlay required for debt settlement
Negative
- Share dilution through issuance of 5,749,169 new common shares
- Significant insider participation (1,190,769 shares) in debt settlement
News Market Reaction
On the day this news was published, VRCFF gained 20.06%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
VANCOUVER, BC / ACCESS Newswire / March 19, 2025 / Supreme Critical Metals Inc. (CSE:CRIT)(FWB:VR61)(OTC PINK:VRCFF) ("Supreme" or the "Company") announces that further to its previous announcement regarding the debt settlement agreements, the Company has amended the issue price per share to
Related parties transactions account for 1,190,769 of the shares to be issued to 4 directors and officers, making this a related party transaction. The Company is relying upon exemptions contained in sections 5.5(a) and 5.7 (a) of MI 61-101 as the fair market value of the shares being issued is less than
About Supreme Critical Metals Inc.
SUPREME CRITICAL METALS INC. is a publicly traded diversified investment corporation actively exploring and investigating multiple opportunities in lithium, copper, silver, and precious metals. The Company adheres to strategic guidelines that prioritize regions conducive to mining, supported by favourable government regulations and existing infrastructure.
For further information, please contact:
George Tsafalas, Director
Phone: Toll Free 1(778) 373-8578
E-mail: info@supremecritalmetals.com
www.supremecriticalmetals.com
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management's current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "predicts", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.
SOURCE: Supreme Critical Metals Inc.
View the original press release on ACCESS Newswire
FAQ
How many shares will Supreme Critical Metals (VRCFF) issue in its March 2025 debt settlement?
What is the total debt being settled by Supreme Critical Metals (VRCFF) in this announcement?
How many shares are being issued to insiders in VRCFF's debt settlement?
What restrictions apply to the shares issued in VRCFF's debt settlement?
