Paradigm Gold Announces Shares for Debt Settlement

Executive Summary

• Paradigm Gold entered into a debt settlement agreement, converting $357,221.21 of accrued royalty debt into 2,857,769 common shares at $0.125 per share, pending TSX Venture Exchange approval.
• The company completed the first (and only) tranche of a private placement, raising gross proceeds of $520,520; no further tranches will be offered.
• Paradigm terminated its option to acquire interests in four projects on the North Thompson Nickel Belt, Manitoba.

Key Details

• Debt Settlement: 2,857,769 common shares to be issued at $0.125 per share, representing a total consideration of $357,221.21. Shares will be subject to a hold period of four months and one day from issuance.
• Purpose of Debt: Accrued annual advance minimum royalty payments on the Swift‑Katie property over the past five years.
• Regulatory Condition: Settlement is subject to acceptance by the TSX Venture Exchange.
• Private Placement Closure: First tranche closed with gross proceeds of $520,520; the placement is now concluded with no additional tranches planned.
• Option Termination: The company elected not to proceed with its option to acquire interests in four projects located in the North Thompson Nickel Belt, Manitoba, and has formally terminated that option agreement (originally announced on October 17, 2023).

Notable Quotes

(No direct quotes from executives were included in the release.)