CLGCF - Clarity Metals Announces Debt Settlement | Benzinga
VANCOUVER, British Columbia, March 17, 2024 (GLOBE NEWSWIRE) -- Clarity Metals Corp. ("Clarity" or the "Company") (CSE:CMET, OTC:CLGCF, FSE: 27G0)) announces its intention to complete a debt settlement with two creditors (the "Debt Settlement") pursuant to which it shall seek to issue an aggregate of 5,977,033 units of the Company (each, a "Unit") at a deemed price of $0.04 per Unit, to settle an aggregate of $239,082 in professional services and advisory fees.
Each Unit shall consist of one common share (each, a "Share") in the capital of the Company and one Share purchase warrant (each, a "Warrant"), with each Warrant entitling the holder thereof to acquire one additional Share (each, a "Warrant Share", and collectively with the Shares and the Warrants, the "Securities") on or before the first anniversary of the date of issuance at an exercise price of $0.05 per Warrant Share.
Completion of the Debt Settlement is subject to receipt of all necessary regulatory approvals, including that of the Canadian Securities Exchange ("CSE"). The Securities to be issued will be subject to a hold period expiring four months and one day from the date of issuance, in accordance with applicable securities laws.
None of the Securities issued in connection with the Debt Settlement will be registered under the United States Securities Act of 1933, as amended, ...