Aurwest Resources Announces Closing Of Shares For Debt Settlement

Executive Summary

• Aurwest Resources completed a shares‑for‑debt settlement with creditor ARCO Resources Ltd., issuing 1,732,500 common shares at a deemed $0.02 per share to extinguish $34,650 of outstanding indebtedness.
• The transaction reduces the Company’s liabilities and is intended to improve its financial position.
• All issued shares are subject to a four‑month‑plus hold period under Canadian securities law.

Key Details

• Transaction Structure: Shares‑for‑debt settlement; 1,732,500 common shares issued.
• Deemed Share Price: $0.02 per share.
• Debt Extinguished: $34,650 of outstanding indebtedness to ARCO Resources Ltd. (arm’s length creditor).
• Hold Period: Shares subject to a four‑month and one‑day hold period from issuance date per applicable securities regulations.
• Purpose: Reduce existing liabilities and strengthen the Company’s balance sheet.

Notable Quotes

• “The completion of this Debt Settlement improves our financial position by reducing our existing liabilities.” – Cameron MacDonald, Interim President and CEO.