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Financings

Record Resources issues six million shares for debt

By The Northwire Desk — AI Analysis Jan 09, 2026 · 19:01 REC · 0.065 Record Resources Inc.
REC · Price

Executive Summary

  • Record Resources Inc. will settle $300,000 of debt to a former consultant by issuing 6 million common shares at a deemed price of $0.05 per share.
  • The transaction is designed to preserve cash for ongoing exploration and balance‑sheet streamlining.
  • Closing is subject to customary conditions, including TSX Venture Exchange approval, and the issued shares will be placed under a statutory hold period of four months and one day.

Key Details

  • Debt Amount: $300,000 outstanding obligations to former consultant.
  • Equity Consideration: 6,000,000 common shares of Record Resources Inc.
  • Deemed Share Price: $0.05 per share (based on prior news release dated July 8 2025).
  • Purpose: Preserve cash resources for exploration activities and streamline the balance sheet.
  • Closing Conditions: Subject to customary closing conditions, including approval by the TSX Venture Exchange.
  • Statutory Hold Period: Shares issued will be subject to a hold period of four months and one day from issuance per securities law and exchange policies.

Notable Quotes

(No direct quotes provided in the release.)

Read the original news release →

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Other