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Meryllion Resources Closes Shares-for-Debt Settlement
Vancouver, British Columbia--(Newsfile Corp. - May 2, 2025) - Meryllion Resources Corporation (CSE: MYR) ("Meryllion" or the "Corporation") is pleased to announce that it has closed its previously announced shares-for-debt transaction with Croesus Mining Pty Ltd (a company controlled by Mr. David Steinepreis, a director of the Company) to settle an outstanding loan of $50,000 (the "Transaction"). Pursuant to the Transaction, a total of 2,500,000 common shares in the capital stock of Meryllion ..
About this update from Meryllion Resources Corp.
[{"type":"text","content":"Vancouver, British Columbia--(Newsfile Corp. - May 2, 2025) - Meryllion Resources Corporation (CSE: MYR) ("Meryllion" or the "Corporation") is pleased to announce that it has closed its previously announced shares-for-debt transaction with Croesus Mining Pty Ltd (a company controlled by Mr. David Steinepreis, a director of the Company) to settle an outstanding loan of $50,000 (the "Transaction"). Pursuant to the Transaction, a total of 2,500,000 common shares in the capital stock of Meryllion (the "Shares") were issued at a deemed issued price of $0.02 per Share. All Shares issued pursuant to the Transaction are subject to a hold period of four months and one day from the date of issuance.","length":745,"tagName":"p"},{"type":"text","content":"The issuance of the Shares pursuant to the Transaction constitutes a "related party transaction" as such term is defined by Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Corporation relies on the exemptions from the valuation and minority shareholder approval requirements for related party transactions in connection with the issuance of the Shares that are set out in sections 5.5(a) and 5.7(1)(a) of MI 61-101 as neither the fair market value (as determined under MI 61-101) of the subject matter of, nor the fair market value of the consideration for, the issuance of the Shares, exceeds 25% of the Corporation's market capitalization (as determined under MI 61-101).","length":765,"tagName":"p"},{"type":"text","content":"Early Warning Disclosure","length":24,"tagName":"p"},{"type":"text","content":"In connection with the Transaction, David Steinepreis acquired ownership, control or direction over common shares of the Corporation requiring disclosure pursuant to the early warning requirements of applicable securities regulation.","length":233,"tagName":"p"},{"type":"text","content":"Immediately prior to the Transaction, Mr. Steinepreis had ownership of, or exercised control or direction over, 16,934,599 Shares and 2,341,625 warrants to purchase Shares ("Warrants"). Pursuant to the Transaction, Mr. Steinepreis, indirectly through Croesus Mining Pty Ltd, acquired 2,500,000 Shares and now holds, or exercises control or direction over, 19,434,599 Sha...