Western Metallica to settle debt with shares, cash

Executive Summary

• Western Metallica Resources Corp. has entered into a debt settlement agreement with Gestion de Consensos Socioambientales S.A.C. to resolve outstanding contractor fees and other obligations.
• The settlement involves the issuance of 180,000 common shares and a cash payment of $6,000 USD.
• The transaction is subject to customary closing conditions, including approval from the TSX Venture Exchange.

Key Details

• Counterparty: Gestion de Consensos Socioambientales S.A.C.
• Total Debt Settled: $13,648.47 (U.S.)
• Consideration Structure:
  • Equity: 180,000 common shares of Western Metallica.
  • Cash: $6,000 (U.S.).
• Deemed Share Price: 6.5 cents per common share.
• Closing Conditions: Subject to customary conditions, specifically approval of the TSX Venture Exchange.
• Share Restrictions: The issued common shares are subject to a hold period of four months and one day following the date of issuance, in accordance with applicable securities laws and TSX-V policies.
• Board Determination: The Board of Directors determined the transaction is in the best interests of the company.