Kingsview Minerals Announces Shares for Debt Transaction

Executive Summary

• Kingsview Minerals Ltd. has agreed to settle approximately C$366,000 of outstanding debt by issuing common shares to certain creditors.
• The transaction involves the issuance of approximately 183,000 common shares at a deemed price of C$0.20 per share.
• The primary objective of the transaction is to improve the Company's financial position by reducing existing liabilities.

Key Details

• Transaction Type: Shares for Debt Transaction (issuance of common shares to settle outstanding accounts payable).
• Debt Amount Settled: Approximately C$366,000.
• Shares Issued: Approximately 183,000 Common Shares.
• Deemed Price: C$0.20 per share.
• Purpose: To improve the Company's financial position by reducing existing liabilities.
• Closing Timeline: Expected to close five business days from the date of the press release.
• Regulatory Conditions: Subject to Canadian Securities Exchange (CSE) acceptance.
• Share Restrictions: Settlement Shares are subject to a statutory hold period of four months and one day from issuance, unless specific creditors are deemed eligible under applicable securities laws to receive shares with no hold period.

Notable Quotes

• "The Shares for Debt Transaction are intended to improve the Company's financial position by reducing its existing liabilities."