Business
Atlantic Industrial Announces Closing of Debt Settlement
Bedford, Nova Scotia--(Newsfile Corp. - April 9, 2021) - Atlantic Industrial Minerals Incorpo...
About this update from Sylla Gold Corp
[{"type":"text","content":"Atlantic Industrial Announces Closing of Debt SettlementBedford, Nova Scotia--(Newsfile Corp. - April 9, 2021) - Atlantic Industrial Minerals Incorporation (TSXV: ANL.H) (the \"Company\") is pleased to announce that, further to its press release of February 19, 2021, it has settled an aggregate of $81,057.90 of indebtedness owed to certain arm's length creditors through the issuance of an aggregate of 1,621,158 common shares (\"Common Shares\") of the Company at a deemed price of $0.05 per Common Share (the \"Debt Settlement\"). The Debt Settlement remains subject to receipt of all necessary corporate and regulatory approvals, including the approval of the NEX.All Common Shares issued in connection with the Debt Settlement are subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation.The settlement of an aggregate indebtedness of $410,000 owed to certain non-arm's length creditors through the issuance of an aggregate of 1,640,000 Common Shares of the Company (the \"Non-Arm's Length Debt Settlement\") is subject to the approval of the NEX and receiving disinterested shareholder approval, which the Company will be seeking at the special meeting of shareholders of the Company to be held on June 4, 2021. The Common Shares issued pursuant to the Non-Arm's Length Debt Settlement will be issued after the completion of the proposed name change and consolidation of the Company's issued and outstanding Common Shares on the basis of one (1) post-consolidation Common Share for every five (5) pre-consolidation Common Shares at a deemed price of $0.25. For more information, please contact: J. Francois LalondeChief Executive Officer Tel: (905) 832-5555 Email: [email protected] Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information is characterized by words such as \"plan\", \"expect\", \"project\", \"intend\", \"believe\", \"anticipate\", \"estimate\" and other similar words, or statements that certain events or conditions \"may\" or \"will\" occur. Forward-looking infor...