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Refined Energy Announces Extension of Marketing Program and Proposed Debt Settlement
VANCOUVER, British Columbia, Jan. 31, 2025 (GLOBE NEWSWIRE) -- Refined Energy Corp. (CSE: RUU | OTC: RFMCF | FRA: CWA0) ("Refined” or the "Company") is pleased
About this update from Refined Energy Corp
[{"type":"text","content":" VANCOUVER, British Columbia, Jan. 31, 2025 (GLOBE NEWSWIRE) -- Refined Energy Corp. (CSE: RUU | OTC: RFMCF | FRA: CWA0) (\"Refined” or the \"Company\") is pleased to announce, further to its news release on November 1, 2024, that it has extended the term of its engagement of Rumble Strip Media Inc. (“Rumble Strip”) (email: [email protected]; address: Unit 893, 250-997 Seymour Street, Vancouver, British Columbia) for the provision of marketing services for an anticipated period of 90 days commencing on or about February 7, 2025, provided that the term of the marketing services may be extended or shortened at the discretion of management depending on, amongst other things, the efficiency of the marketing services. As previously disclosed, Rumble Strip has and will continue to create content and advertisements and undertake media planning, social media news dissemination, and reporting. The Company will pay a fee of CAD $500,000 (plus GST) for the extension. The Company will not issue any securities to Rumble Strip as compensation for its marketing services. As of the date hereof, to the Company’s knowledge, Rumble Strip (including its directors and officers) does not own any securities of the Company and has an arm’s length relationship with the Company. The Company also announces that it intends to settle outstanding debt owed to Independent Trading Group (ITG) Inc. (“ITG”) in an amount of $11,429.21 through the issuance of 22,677 common shares in the capital of the Company (at a deemed price of $0.504 per common share) to ITG. Any common shares issued to ITG as part of the debt settlement will be subject to a statutory four month and one day hold period in accordance with applicable Canadian securities laws. The debt settlement is subject to acceptance by the Canadian Securities Exchange, and is expected to close on or about February 10, 2025. About Refined Energy Corp. Refined Energy Corp. is a junior mining company dedicated to identifying, evaluating and acquiring interests in mineral properties in North America. The Dufferin Project in the Athabasca Basin is the flagship project of Refined and a drill program is planned for the spring of 2025. Refined also has an option to earn up to a 100% interest in the Basin and Milner uranium properties in Saskatchewan. The Company continues to review other mineral properties in Nort...