Peak Discovery amends $104,500 private placement

Executive Summary

• Peak Discovery Capital Ltd. proposes a non‑brokered private placement of up to 1,487,800 units at $0.07 per unit, targeting gross proceeds of up to $104,500.
• The offering includes one common share plus one warrant (exercise price $0.10, expiry 1 year) per unit; a four‑month‑plus hold period will apply.
• Concurrent debt settlement plans will extinguish up to $147,100 of non‑arm’s‑length indebtedness by issuing up to 2,100,500 shares and settle up to $90,600 of arm‑length creditor debt by issuing up to 1,293,200 units on the same terms as the private placement.

Key Details

• Units Offered: Up to 1,487,800
• Unit Price: $0.07 per unit
• Gross Proceeds Target: $104,500
• Composition of Each Unit:
• 1 common share
• 1 common‑share purchase warrant (exercise price $0.10, expires 1 year from issuance)
• Hold Period Legend: No resale for 4 months + 1 day from issuance.
• Use of Proceeds: Pursue new business opportunities and general working capital.
• Finder’s Fees: May be paid to qualifying arm‑length finders per TSX‑V policies.

Debt Settlement Details

• Non‑Arm’s‑Length Debt: Up to $147,100 to be settled by issuing up to 2,100,500 common shares at a deemed value of $0.07 per share.
• Arm‑Length Creditor Debt: Up to $90,600 to be settled by issuing up to 1,293,200 units on the same terms as the private placement.

Regulatory & Governance

• All terms are subject to applicable securities laws and TSX‑V acceptance.
• Securities issued will carry the same resale restrictions (4 months + 1 day).
• Independent directors have approved both the offering and debt settlements.
• Related‑party transactions rely on exemptions under MI 61‑101 sections 5.5(a), 5.5(b), and 5.7(1)(a/e) because the fair market value of the consideration does not exceed 25 % of market capitalization and shares are not listed on specified markets.

Notable Quotes

No direct quotes were provided in the release.