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Cascadia Announces Shares for Debt Settlements
Cascadia Announces Shares for Debt Settlements Canada NewsWire VANCOUVER, B...
About this update from Cascadia Minerals Ltd
[{"type":"text","content":"\n\n\n\n Cascadia Announces Shares for Debt Settlements\n \n\n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n\n VANCOUVER, BC\n \n\n ,\n \n\n Aug. 20, 2025\n \n\n /CNW/ - Cascadia Minerals Ltd. (\"\n \n Cascadia\n \n \") (TSXV: CAM) (OTCQB: CAMNF) announces that it is undertaking certain shares for debt settlements in connection with its acquisition of Granite Creek Copper Ltd. (\"\n \n Granite Creek\n \n \") which closed on\n \n August 13, 2025\n \n (the \"\n \n Acquisition\n \n \").\n \n\n\n\n\n\n\n\n\n Upon completion of the Acquisition,\n \n Timothy Johnson\n \n , the former Chief Executive Officer and President of Granite Creek, became entitled to a change of control payment in the amount of\n \n $360,000\n \n , of which\n \n $180,000\n \n has been paid in cash.  The balance of the change of control payment is payable at Cascadia's election in either cash or Cascadia common shares (\"\n \n Cascadia Shares\n \n \") priced at a five-day volume-weighted average price after the closing of the Acquisition.   Cascadia has elected to pay the entirety of the remaining amount owed to Mr. Johnson in connection with his change of control payment in shares, and subject to receipt of TSXV approval, will issue 1,169,666 shares to him.\n \n\n In connection with its acquisition of Granite Creek, Cascadia additionally agreed to settle a debt owed to a past Chief Executive Officer of Granite Creek, for total consideration of\n \n $365,000\n \n .  Of this amount,\n \n $55,000\n \n is to be paid in cash, leaving a balance of\n \n $310,000\n \n payable at Cascadia's election in cash or Cascadia Shares priced at a five-day volume-weighted average price after the closing of the Acquisition.  Cascadia has determined to settle\n \n $235,946\n \n by the issuance of 1,533,217 Cascadia Shares, subject to TSXV approval, with the balance paid in cash.\n \n\n The payments to Mr. Johnson are a \"related party transaction\" for the purposes of Multilateral Instrument 61-101\n \n Protection of Minority Securi...