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Financings

Grit Metals Corp. Announces Debt Settlement

By The Northwire Desk — AI Analysis Nov 25, 2025 · 18:01 FIN · 0.12 Grit Metals Corp.
FIN · Price

Executive Summary

  • Grit Metals entered into a debt settlement agreement with Vector Geological Solutions Inc. to extinguish $75,000 of outstanding consulting debt.
  • The company will issue 625,000 common shares at a deemed price of $0.12 per share as full satisfaction of the debt.
  • The transaction is expected to preserve cash for working‑capital needs and improve the balance sheet, subject to TSX Venture Exchange approval; issued shares carry a four‑month‑plus hold period.

Key Details

  • Debt Settlement Amount: $75,000 owed for geological consulting services.
  • Equity Issuance: 625,000 common shares at a deemed price of $0.12 per share (total nominal value $75,000).
  • Purpose: Full satisfaction of the outstanding debt; preserve cash for working capital and strengthen balance sheet.
  • Approval Required: Transaction remains subject to TSX Venture Exchange approval.
  • Share Hold Period: All issued shares will be subject to a hold period of four months and one day from issuance.
  • Counterparty: Vector Geological Solutions Inc., an arm’s‑length party providing geological consulting services.

Notable Quotes

(No direct quotes were provided in the release.)

Read the original news release →

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