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Colt Resources (TSXV:GTP) reported that it has settled with a former executive by issuing an aggregate of 1,866,354 common shares at a deemed price of CA$0.245.
As quoted in the press release:
Colt Resources Inc. (“Colt” or the “Company”) (TSXV: GTP) (FRA: P01) (OTCPink: COLTF) announces that it has entered into a settlement agreement with a former executive whereby, among other items and subject to TSX Venture Exchange approval, the Company has agreed to issue an aggregate of 1,866,354 common shares at a deemed price of CA$0.245 per common share to the former executive in payment of unpaid salary, as well as severance amounts.
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