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Financings

Vanadian Energy Announces Settlement of Debt

By The Northwire Desk — AI Analysis Mar 11, 2026 · 18:58 VEC · 0.18
VEC · Price

Executive Summary

  • Vanadian Energy Corp. received TSX Venture Exchange approval to settle C$1,225,219 of outstanding debt by issuing 7,657,617 common shares at a deemed price of $0.16 per share.
  • The issuance created two new control persons: Director Clive T. Johnson (32.49% ownership) and Director Gordon Keep (22.88% ownership).
  • All newly issued securities are subject to a statutory hold period expiring July 11, 2026; the settlement is intended to strengthen the company’s balance sheet.

Key Details

  • Debt Settlement Structure:
  • Total debt settled: C$1,225,219.

  • Shares issued: 7,657,617 common shares at $0.16 per share (deemed price).

  • Share Allocation – Clive T. Johnson:

  • Shares received: 3,341,856 (≈32.49% of outstanding shares).
  • Debt value settled: $534,697.
  • Pre‑transaction holdings: 519,138 common shares + 62,500 stock options.

  • Post‑transaction holdings: 3,860,994 common shares + 62,500 stock options (32.49% on a fully diluted basis).

  • Share Allocation – Gordon Keep:

  • Shares received: 2,718,750 (≈22.88% of outstanding shares).
  • Debt value settled: $435,000.
  • Entities used: Fiore Management & Advisory Corp. and Jasper Management & Advisory Corp. (controlled by Mr. Keep).
  • Pre‑transaction holdings: none.

  • Post‑transaction holdings: 2,718,750 common shares + 41,750 stock options (22.88% on a fully diluted basis).

  • Related Party Transaction:

  • Both settlements are related party transactions under MI 61-101 and exempt from valuation requirements because the company is not listed on specified markets.

  • Board Approval & Shareholder Vote:

  • Disinterested directors approved the settlement.

  • Shareholder approval obtained at the annual general and special meeting on June 26, 2025.

  • Statutory Hold Period:

  • All shares issued are subject to a hold period of four months and one day, expiring July 11, 2026.

  • Early Warning Disclosure:

  • The transaction triggers early warning filings for both directors; reports will be available on SEDAR+.

Notable Quotes

“The Debt Settlement is intended to strengthen the Company's balance sheet.” – Marc Simpson, President and CEO

Materiality Assessment: Material – Positive (the settlement materially alters ownership structure and improves balance‑sheet positioning).

Read the original news release →

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