PNN:CC - Pambili Announces Shares-For-Debt Application Approved
(TheNewswire)
CALGARY, Canada (June 18,2025) — TheNewswire - In a news release issued on June 5, 2025,Pambili Natural Resources Corporation ("Pambili" or the"Company") (TSX-V: PNN) stated it had previously obtainedDisinterested Shareholder Approval to convertInsider Debt to Shares at C$0.07 per share and, under the terms of the debt settlementagreements, all creditors will settle their debt at 50 cents on thedollar (the “Settlement”).
The Company further confirms that participation by those Insiders (as such term is defined under the policies ofthe Exchange) in the Settlement constitutes a “related partytransaction” within the meaning of Multilateral Instrument 61-101 Protection of MinoritySecurity Holders in Special Transactions (“ MI61-101 ”). The Company has relied on exemptionsfrom the formal valuation and minority shareholder approvalrequirements provided under subsections 5.5(a) and 5.7(a) of MI 61-101on the basis that participation in the Settlement by Insiders will notexceed 25% of the fair market value of the Company’s marketcapitalization.
Following this clarification the Company is pleased toannounce that the TSX Venture Exchange (the“Exchange”) has approved the Settlement for an aggregate total of C$404,453 . Accordingly Pambili has issued 5,777,903 new Sharesto the creditors, bringing the total number of shares in issue to 60,576,261 .
Under the terms of the Exchange, the Shares issued inSettlement will be subject to a statutoryfour-month-and-one-day-hold.
About Pambili Natural ResourcesCorporation: Pambili Natural ResourcesCorporation is a natural resources exploration and development company( www.pambilinrc.com ) currentlyactive in Zimbabwe.
For further information,contact:
Pambili NaturalResources Corporation
T : +1 (403) 2774421
Neither TSX Venture Exchange nor itsRegulation Services Provider (as that term is defined in the policiesof the TSX Venture Exchange) accepts responsibility for the adequacyor accuracy of this release.
Caution Regarding Forward-Looking InformationForward-looking statements - Certain information set forth in thisnews release may contain forward-looking statements that involvesubstantial known and unknown risks and uncertainties. Forward-lookingstatements are often, but not always, identified by words such as“believes”, “may”, “likely”, “plans”, or similarwords. Forward- looking statements included in this news releaseinclude statements with respect to work to be done on its goldprojects in Zimbabwe. These forward-looking statements are subject tonumerous risks and uncertainties, certain of which are beyond thecontrol of the Corporation, including, but not limited to the impactof general economic conditions, industry conditions, currencyfluctuations, and dependence upon regulatory approvals. TheCorporation does not assume any obligation to update theforward-looking statements to reflect changes in assumptions orcircumstances other than as required by applicable law.
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