Guardian Announces Agreements to Retire Debt

About this update from Guardian Exploration Inc.

[{"type":"text","content":"Guardian Announces Agreements to Retire Debt\n \n \n (TheNewswire)\n \n \n \n Calgary, Alberta\n \n \n -\n \n \n TheNewswire -\n \n \n March 28, 2022 -\n \n \n Guardian Exploration Inc.\n(\n \n \n TSXV:GX) (the “\n \n \n Corporation\n \n \n ” or\n“\n \n \n Guardian\n \n \n ”) announces that it has entered into agreements to retire\n$1,084,771.12 of indebtedness owing under previously provided loans in\nexchange for common shares in the capital of the Corporation at a\nprice of $0.525 per share.  Completion of debt settlement is subject\nto the approval from the TSX Venture Exchange (the “\n \n \n TSXV\n \n \n ”).\n \n \n \n \n If approved by the TSXV, the Corporation will issue an\naggregate of 20,662,306 common shares to creditors.  Of those shares,\n19,505,707 will be issued to Graydon Kowal, the President, CEO and a\ndirector of the Corporation and to companies owned by him in order to\nsettle an aggregate of $1,024,049.62 in loans made by Mr. Kowal and\nhis companies.  As a result of the debt settlements, Mr. Kowal will\nown, directly and indirectly, an aggregate of 89,595,792 common shares\nin the capital of the Corporation, or 86.09% of the common shares of\nthe Corporation after completion of the debt settlements.\n \n \n \n \n The settlements of the debts with Mr. Kowal companies\nare considered \"Related Party Transactions\"\n \n \n under Multilateral Instrument 61-101 –\n \n \n Protection of Minority Security Holders in\nSpecial Transactions\n \n \n (“\n \n \n MI 61-101\n \n \n ”).   The\nCorporation will rely upon the exemptions from the minority\nshareholder approval and valuation requirements set out in Sections\n5.7(1)(a) and 5.5(a), respectively, of MI 61-101.  The retirement of\ndebt was approved by the u\n \n \n nanimous resolution of\nthe directors of the Corporation.\n \n \n \n \n All of the shares issued in connection with the debt\nsettlement will be subject to a statutory four-month hold period in\naccordance with applicable securities laws.\n \n \n \n \n About Guardian Exploration\nInc.\n \n \n \n \n Guardian is a TSX-V listed company (GX) in the business\nof oil and gas as well as mineral exploration and development.\n Guardian\n \n \n ’ s first prospect is the Mount\nCameron Property located in the Yukon&#...

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