Troy Minerals Announces Debt Settlement

Executive Summary

• Troy Minerals will settle $348,000 of outstanding indebtedness by issuing 2,784,000 common shares at a deemed price of $0.125 per share.
• The transaction is intended to preserve cash for working capital and improve the Company’s balance sheet by reducing liabilities.
• All issued securities will be subject to a four‑month hold period under Canadian securities law.

Key Details

• Debt Amount: $348,000 owed to certain creditors.
• Equity Consideration: 2,784,000 common shares at a deemed price of $0.125 per share (aggregate value ≈ $348,000).
• Purpose: Preserve cash for working capital and improve financial position by reducing existing liabilities.
• Closing Conditions: Subject to customary closing conditions, including finalization of contractual documentation and receipt of any required regulatory approvals (including CSE policies).
• Hold Period: Issued shares will be subject to a four‑month hold period in accordance with Canadian securities law.
• Announcement Signatory: Rana Vig, CEO and Director, on behalf of the Board.

Notable Quotes

(No direct quotes provided in the release.)