Hispania Resources Inc. Announces Shares for Debt Transaction

Executive Summary

• Hispania Resources Inc. will settle $666,062 of indebtedness by issuing 6,660,620 common shares at a deemed price of $0.10 per share.
• The shares are subject to a statutory hold period of four months and one day and the transaction is pending TSX Venture Exchange approval.
• The related‑party nature of the issuance qualifies for exemptions from formal valuation and minority shareholder approval under MI 61‑101 because the fair market value and debt amount each represent less than 25% of market capitalization.

Key Details

• Debt Settlement Amount: $666,062.
• Shares to be Issued: 6,660,620 common shares (aggregate).
• Deemed Share Price: $0.10 per share.
• Purpose of Shares: Payment of fees for services performed by insiders and external consultants (“Service Providers”).
• Statutory Hold Period: Four months and one day from issuance.
• Regulatory Status: Transaction pending approval by the TSX Venture Exchange.
• Related‑Party Transaction: Issuance to insiders qualifies as a “related party transaction” under MI 61‑101; company will rely on exemptions because neither the fair market value of the shares nor the debt exceeds 25% of its market capitalization.
• Exemptions Sought: Formal valuation exemption and minority shareholder approval exemption per Sections 5.5(a) and 5.7(1)(a) of MI 61‑101.

Notable Quotes

(No executive quotes were included in the release.)