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Canadian Critical Minerals (TSXV: CCMI) (OTCQB: RIINF) has reached an agreement to settle $250,000 in accounts payable through a debt-to-equity conversion. The settlement involves issuing 5,000,000 units, each consisting of one common share and half a warrant. Each full warrant can be exercised to acquire one common share at $0.075 per share within two years. The settlement requires TSX Venture Exchange approval, and the securities will have a four-month and one-day holding period after closing.
I Minerali Critici Canadesi (TSXV: CCMI) (OTCQB: RIINF) hanno raggiunto un accordo per risolvere $250.000 in debiti attraverso una conversione del debito in capitale. L’accordo prevede l’emissione di 5.000.000 di unità, ciascuna composta da una azione ordinaria e mezza opzione d’acquisto. Ogni opzione piena può essere esercitata per acquisire un’azione ordinaria a $0,075 per azione entro due anni. L’accordo richiede l’approvazione del TSX Venture Exchange e i titoli avranno un periodo di detenzione di quattro mesi e un giorno dopo la chiusura.
Minerales Críticos Canadienses (TSXV: CCMI) (OTCQB: RIINF) ha llegado a un acuerdo para liquidar $250,000 en cuentas por pagar mediante una conversión de deuda a capital. El acuerdo implica la emisión de 5,000,000 de unidades, cada una compuesta por una acción ordinaria y media opción de compra. Cada opción completa se puede ejercer para adquirir una acción ordinaria a $0.075 por acción dentro de dos años. El acuerdo requiere la aprobación de la Bolsa de Valores de TSX Venture, y los valores tendrán un período de retención de cuatro meses y un día después del cierre.
캐나다 비판 광물 (TSXV: CCMI) (OTCQB: RIINF)은 채무를 자본으로 전환하여 $250,000의 미지급금을 해결하기 위한 합의에 도달했습니다. 이번 합의는 5,000,000 유닛을 발행하는 것으로, 각 유닛은 하나의 보통주와 반 개의 보증으로 구성됩니다. 각 전체 보증은 2년 이내에 $0.075의 가격으로 하나의 보통주를 획득하기 위해 행사할 수 있습니다. 이번 합의는 TSX 벤처 거래소의 승인을 요구하며, 해당 증권은 폐쇄 후 4개월 1일의 보유 기간이 있습니다.
Minéraux Critiques Canadiens (TSXV: CCMI) (OTCQB: RIINF) a conclu un accord pour régler 250 000 $ en comptes à payer par le biais d’une conversion de dette en capitaux propres. Le règlement implique l’émission de 5 000 000 d’unités, chacune composée d’une action ordinaire et d’une demi-option. Chaque option complète peut être exercée pour acquérir une action ordinaire au prix de 0,075 $ par action dans les deux ans. Le règlement nécessite l’approbation de la TSX Venture Exchange et les valeurs mobilières auront une période de conservation de quatre mois et un jour après la clôture.
KANADISCHE KRITISCHE MINERALIEN (TSXV: CCMI) (OTCQB: RIINF) hat eine Vereinbarung getroffen, um $250.000 in Verbindlichkeiten durch eine Umwandlung von Schulden in Eigenkapital zu begleichen. Die Vereinbarung umfasst die Ausgabe von 5.000.000 Einheiten, die jeweils aus einer Stammaktie und einer halben Warrant bestehen. Jede volle Warrant kann innerhalb von zwei Jahren ausgeübt werden, um eine Stammaktie zu einem Preis von $0,075 pro Aktie zu erwerben. Die Vereinbarung bedarf der Genehmigung der TSX Venture Exchange und die Wertpapiere unterliegen einer Haltedauer von vier Monaten und einem Tag nach Abschluss.
Positive
- Reduces $250,000 in accounts payable, improving balance sheet structure
- Preserves cash position by settling debt through equity issuance
Negative
- 5,000,000 new units issuance leads to shareholder dilution
- Additional potential dilution from 2.5 million warrants if exercised
Calgary, Alberta–(Newsfile Corp. – November 18, 2024) – Canadian Critical Minerals Inc. (TSXV: CCMI) (OTCQB: RIINF) (“CCMI” or the “Company“) has entered into an agreement with an arm’s length vendor to settle $250,000 of accounts payable through the issuance of 5,000,000 units, with each unit comprised of one common share of the Company and one-half of one warrant, with each full warrant exercisable into a common share at an exercise price of $0.075 per share for two years.
The debt settlement is subject to approval by the TSX Venture Exchange. The shares and warrants will be subject to a statutory hold period of four months and one day after the closing of the debt settlement.
About Canadian Critical Minerals Inc.
CCMI is a mining company primarily focused on two near-term copper production assets in Canada. CCMI’s main asset is the 100% owned Bull River Mine project (>135 million lbs of copper) near Cranbrook, British Columbia which has a Mineral Resource containing copper, gold and silver. CCMI also owns a 30% interest in the Thierry Mine project (>1.3 billion lbs of copper) near Pickle Lake, Ontario which has a Mineral Resource containing copper, nickel, silver, palladium, platinum and gold.
Caution Regarding Forward-Looking Information
This news release includes certain information that may constitute “forward-looking information” under applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements about strategic plans, future work programs and objectives and expected results from such work programs. Forward-looking information necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; and other risks.
Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information and the risks identified in the Company’s continuous disclosure record. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information contained in this news release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this new release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/230536
FAQ
What is the debt settlement amount for Canadian Critical Minerals (RIINF) in November 2024?
Canadian Critical Minerals is settling $250,000 of accounts payable through the issuance of units.
How many units is Canadian Critical Minerals (RIINF) issuing for the debt settlement?
The company is issuing 5,000,000 units, each comprising one common share and one-half warrant.
What is the warrant exercise price and term for Canadian Critical Minerals (RIINF) debt settlement?
Each full warrant is exercisable at $0.075 per share for a period of two years.
What is the holding period for the securities issued in RIINF’s debt settlement?
The shares and warrants will have a statutory hold period of four months and one day after closing.
