Business
Silver X Mining Announces Shares for Debt Transaction
VANCOUVER, BC / ACCESSWIRE / November 5, 2021 / SILVER X MINING CORP. (TSXV:AGX) (OTCQB:WRPSF) ("Silver X" or the "Company") is pleased to announce that the boa
About this update from Silver X Mining Corp
[{"type":"text","content":" VANCOUVER, BC / ACCESSWIRE / November 5, 2021 / SILVER X MINING CORP. (TSXV:AGX) (OTCQB:WRPSF) (\"Silver X\" or the \"Company\") is pleased to announce that the board of directors of Silver X has approved the settlement of up to CAD$1,668,518 of debt (the \"Debt Settlement\") through the issuance of common shares of the Company (the \"Shares\"). The Company previously announced on July 28, 2021, that Baker Steel had participated in a debt settlement transaction with the Company to convert the principal amount of its US$1 million (the \"Note\") together with accrued interest and arrangement fees in the amount of CAD$1,608,893 into Shares, however at that time the Company and Baker Steel only settled the interest on Baker Steel's US$4 million unsecured convertible debenture (the \"Debenture\") by issuing 593,536 Shares. The Company and Baker Steel are now settling the principal amount of the Note together with accrued interest and arrangement fees in the amount of CAD$1,668,518 at a deemed price of $0.315 per Share. The issuance of the Shares to Baker Steel is subject to the approval of the TSX Venture Exchange. All securities issued will be subject to a four month hold period which will expire on the date that is four months and one day from the date of issue. About Silver X Mining Silver X Mining is a Canadian silver mining company with assets in Peru and Ecuador. The Company's flagship asset is the Nueva Recuperada silver lead zinc project located in Huancavelica, Peru. Founders and management have a successful track record of increasing shareholder value. For more information visit our website at www.silverx-mining.com. ON BEHALF OF THE BOARDJose GarciaChief Executive Officer For further information, please contact:Silver X Mining Corp.Jose Garcia, Chief Executive Officer+1 604 358 1382 | [email protected] Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Cautionary Statement Regarding \"Forward-Looking\" Information This press release contains \"forward-looking information\" within the meaning of applicable Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as \"plans\", \"expects\"...