Troy Minerals to issue 2.78M shares for debt of $348k

Executive Summary

• Troy Minerals Inc. is settling $348,000 in outstanding indebtedness by issuing 2,784,000 common shares.
• The transaction is valued at a deemed price of 12.5 cents per share and is intended to preserve cash for working capital and improve the company's financial position.
• The settlement is expected to close shortly, subject to customary conditions including regulatory approvals and finalizing contractual documentation.

Key Details

• Debt Amount Settled: $348,000 owed to certain creditors.
• Shares Issued: 2,784,000 common shares.
• Deemed Price: 12.5 cents per share.
• Purpose: To preserve cash for working capital and reduce existing liabilities.
• Closing Conditions: Subject to customary closing conditions, including finalizing contractual documentation and receipt of applicable regulatory approvals (including Canadian Securities Exchange policies).
• Restrictions: All securities issued are subject to a four-month hold period in accordance with Canadian securities law.