Business
Silver Sands Announces Stock Option Grants to Directors and Consultants and Proceeds with Debt Settlement
Vancouver, British Columbia--(Newsfile Corp. - February 15, 2024) - Silver Sands Resources Corp. ...
About this update from Silver Sands Resources Corp.
[{"type":"text","content":"Silver Sands Announces Stock Option Grants to Directors and Consultants and Proceeds with Debt SettlementVancouver, British Columbia--(Newsfile Corp. - February 15, 2024) - Silver Sands Resources Corp. (CSE: SAND) (the \"Company\" or \"Silver Sands\") is pleased to announce that it has today granted an aggregate of 650,000 incentive share purchase options to directors and consultants at an exercise price of $0.085 per common share with a term of five years expiring on February 15, 2029. All shares issued pursuant to any exercise of options will be subject to a four-month and one-day hold period expiring June 16, 2024.Debt Settlement TransactionThe Company has entered into debt settlement agreement with two directors and one consultant of the Company, the latter being an arm's length third party, pursuant to which the Company has agreed to issue an aggregate of 1,152,941 common shares (each, a \"Share\") at a deemed price of $0.085 per Share, to settle a total indebtedness of CAD$98,000.00 (the \"Transaction\"). The Company determined to satisfy this outstanding indebtedness with Shares to preserve its cash for operations. The Transaction is subject to the approval of the Canadian Securities Exchange. All Shares issued pursuant to the Transaction will be subject to a four-month and one-day hold period. About Silver Sands Resources Corp.Silver Sands is a Canada-based company engaged in the business of mineral exploration and the acquisition of mineral property assets in mining-friendly jurisdictions. Its objective is to locate and develop economic precious and base metal properties of merit. Its key asset is the 6,400 hectare Corner Pocket copper-zinc-silver massive sulfide project, 25 km to the WNW of Corner Brook, Newfoundland. Corner Pocket is contiguous to the west, east and south of the York Harbour Metals Inc., massive sulfide project. On Behalf of the Board of DirectorsKeith AndersonChief Executive Officer, DirectorFor further information, please contact:Keith AndersonChief Executive Officer, Director (604) 786-7774Forward-Looking Statements: The information in this news release contains forward-looking statements that are subject to a number of known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in our forward-looking statements. Factors that co...