Pegmatite One issues 2.46 million shares for debt

Executive Summary

• Pegmatite One Lithium and Gold Corp. settled outstanding indebtedness of $209,500 by issuing 2,464,708 common shares at $0.085 per share.
• The settlement reduces the company’s debt load and improves its balance sheet position.
• Issued shares are subject to a four‑month‑and‑one‑day hold period and require approval from the Canadian Securities Exchange.

Key Details

• Outstanding indebtedness settled: $209,500.
• Shares issued for settlement: 2,464,708 common shares.
• Issue price per share: $0.085 (8.5 cents).
• Total gross proceeds from the issuance: ≈ $209,500 (matching debt amount).
• Hold restriction: four months and one day from date of issuance.
• Settlement is contingent upon approval by the Canadian Securities Exchange.

Notable Quotes

(No quotes provided in the release.)