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TinOne Resources Inc. (TSXV: TORC) ("TinOne" or the "Company") announces that it has entered into debt settlement agreements to settle outstanding debt of C$172,137.28 owing to certain arm's length creditors of the Company (the "Creditors"), by issuing 1,229,552 Common Shares at a deemed price of C$0.14 per Common Share (the "Shares-for-Debt Transaction"), to the Creditors.
The Shares-for-Debt Transaction is subject to all necessary regulatory and stock exchange approvals, including the approval of the TSX Venture Exchange. All securities issued for the Shares-for-Debt Transaction will be subject to a statutory hold period expiring on the date that is four months and one day after the issue date.
About TinOne
TinOne is a TSX Venture Exchange listed Canadian public company with a high-quality portfolio of tin and tungsten projects in the Tier 1 mining jurisdictions of Tasmania, Australia.
Contact Information: For more information and to sign-up to the mailing list, please contact:
Rob Curtis, Chief Executive Officer
Email: info@tinone.ca
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS
This news release contains certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable securities legislation. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or" should" occur or be achieved. All statements in this news release, other than statements of historical fact, including, without limitation, statements relating to the Shares-for-Debt Transaction, the receipt of acceptance of the Shares-for-Debt Transaction by the TSX Venture Exchange, and the plans and business of the Company are forward-looking statements. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation, the ability of the Company to close the Shares-for-Debt Transaction, and the ability of the Company to obtain acceptance by the TSX Venture Exchange. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these items. The Company does not assume any obligation to update these forward-looking statements should they change, except as required by applicable securities laws.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/321474
