Business
Rush Rare Metals to Issue Shares to Settle Debt
VANCOUVER, BC / ACCESSWIRE / July 24, 2023 / RUSH RARE METALS CORP. ("Rush" or the "Company") announces that it has entered into a debt settlement agreement dat
About this update from Rush Rare Metals Corp
[{"type":"text","content":" VANCOUVER, BC / ACCESSWIRE / July 24, 2023 / RUSH RARE METALS CORP. (\"Rush\" or the \"Company\") announces that it has entered into a debt settlement agreement dated as of July 21, 2023 with David Miller, a director of the Company, pursuant to which the Company will issue an aggregate of 800,000 common shares of the Company (\"Shares\") to Mr. Miller to settle debt incurred for the provision of geological consulting services by Mr. Miller to the Company. The Shares will be issued at a deemed price of $0.0525 per Share and will be subject to a four month hold period in accordance with applicable securities laws. The debt settlement is considered to be a \"related party transaction\" as defined under Multilateral Instrument 61-101 (\"MI 61-101\"). The transaction is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as the fair market value of the transaction does not exceed 25% of the market capitalization of the Company, as determined in accordance with MI 61-101. About the Company The Company is a mineral exploration company focused on its Boxi Property located in the Province of Québec, Canada. The Company also owns the Copper Mountain Project located in Wyoming, USA. For further information, please refer to the Company's disclosure record on SEDAR (www.sedar.com) or contact the Company by email at [email protected] or by telephone at 778.999.7030. Please also feel free to take some time and explore our web-site: www.rushraremetals.com. On Behalf of the Board of DirectorsPeter SmithChief Executive Officer778.999.7030 Forward-Looking Information Mineralization hosted on adjacent or nearby properties is not necessarily indicative of mineralization hosted on the Company's properties. Certain statements in this news release are forward-looking statements, including with respect to future plans, and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as \"may\", \"expect\", \"estimate\", \"anticipate\", \"intend\", \"believe\" and \"continue\" or the negative thereof or similar variations. The reader is cautioned that assumptions used in the preparat...