Northwire Canada EditionThursday, July 16, 2026
Sign inSubscribe
Northwire
⌕
CLCH 1.17 −4.1% DG 0.035 +0.0% SGML 15.86 −6.0% FURY 0.730 −2.7% CG 22.11 −1.9% ARIS 20.18 −1.1% LAF 1.65 +0.0% MKO 10.18 −2.2% NUG 0.330 −1.5% SGN 0.250 −5.7% AVL 7.99 −0.4% ELE 22.14 −2.7% TRX 1.03 −7.2% PTM 1.83 +0.6% OMM 0.050 −9.1% CBG 0.300 −1.6% CLCH 1.17 −4.1% DG 0.035 +0.0% SGML 15.86 −6.0% FURY 0.730 −2.7% CG 22.11 −1.9% ARIS 20.18 −1.1% LAF 1.65 +0.0% MKO 10.18 −2.2% NUG 0.330 −1.5% SGN 0.250 −5.7% AVL 7.99 −0.4% ELE 22.14 −2.7% TRX 1.03 −7.2% PTM 1.83 +0.6% OMM 0.050 −9.1% CBG 0.300 −1.6%
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 →

More from

Jun 17, 2026 · 08:01

Vanadian Energy Announces Interim CEO

Management May 06, 2026 · 08:31

Tagline: Leadership Vacuum Emerges as Vanadian Energy Loses CEO Following Debt Restructuring

Management