Business
Gold'n Futures Announces Debt Settlement
(TheNewswire) VANCOUVER, BC – TheNews w ire – December 13, 2023 -...
About this update from Gold'n Futures Mineral Corp.
[{"type":"text","content":"Gold'n Futures Announces Debt Settlement\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n VANCOUVER, BC – TheNews\n \n \n w\n \n \n ire –\n \n \n December\n13, 2023 -\n \n \n GOLD’N FUTURES\nMINERAL CORP\n \n \n . (CSE:FUTR) (FSE:G6M), (OTC:GFTRF)\n(the “\n \n \n Company\n \n \n ” or “\n \n \n Gold’n\nFutures\n \n \n ”) announced that it has closed the\npreviously announced debt settlement agreements (the “\n \n \n Settlement Agreements\n \n \n ”) to settle outstanding cash payments owed to two\ncreditors (the “\n \n \n Creditors\n \n \n ”) totaling $76,000 for legal,\naccounting and corporate administration fees. Pursuant to the\nSettlement Agreements, the Company issued an aggregate of 7,600,000\ncommon shares (“\n \n \n Shares\n \n \n ”) at a deemed price of $0.01 per\nShare, based on a 20-day VWAP.\n \n \n \n The Company relied on the “Employee, Executive Officer, Director and\nConsultant” exemption contained in section 2.24 (the “\n \n Exemption\n \n ”) of NI 45-106\nProspectus Exemptions, to issue the Shares to the Creditors.\nSecurities issued under the Exemption are subject to a seasoning\nperiod, however they are not subject to a 4 month and 1 day resale\nrestriction.\n \n \n One Settlement Agreement in the amount of $46,000 was with Fish Purdy\nLLP., a company partially controlled by Matthew Fish, a director of\nthe Company, and accordingly this was a \"related party\ntransaction\" as such term is defined by Multilateral Instrument\n61-101 - Protection of Minority Security Holders in Special\nTransactions (\"\n \n MI\n61-101\n \n \"). The Company relied on the exemption from formal\nvaluation and minority shareholder approval requirements set out in MI\n61-101 as the fair market value of the transaction did not exceed 25%\nof the market capitalization of the Company, as determined in\naccordance with MI 61-101.\n \n \n \n About Gold’n Futures Mineral\nCorp.\n \n \n \n Gold’n Futures Mineral Corp. (CSE: FUTR) (FSE: G6M) (OTC: GFTRF) is\na mineral exploration company with two advanced Canadian gold\nprojects\n \n .  The\n \n \n Hercules Gold Project\n \n \n is 195 km northeast of\nThunder Bay, Ontario in the Beardmore – Geraldton gold...