Knoxville, Tennessee--(Newsfile Corp. - July 15, 2026) - Clinch Resources Ltd. (TSX: CLCH) ("Clinch" or the "Company"), a metallurgical coal producer with mining assets in West Virginia, today announced that it has completed a debt settlement transaction (the "Debt Settlement") pursuant to which the Company issued an aggregate of 1,565,954 common shares of the Company ("Common Shares") at a price of C$1.25 per Common Share in settlement of US$1,409,359 of interest owed by Active Resources, Inc. ("Active Resources"), a subsidiary of the Company, on certain indebtedness that was previously repaid. The Debt Settlement was completed with certain arm's length third parties (collectively, the "Creditors") pursuant to the terms of debt settlement agreements entered into among the Company, Active Resources and the Creditors.
The Common Shares issued pursuant to the Debt Settlement are subject to a statutory hold period of four months and one day from the date of issuance in accordance with applicable Canadian securities laws, as well as other restrictions applicable to Creditors located in or subject to the laws of the United States. The listing of the Common Shares issued pursuant to the Debt Settlement remains subject to the final approval of the Toronto Stock Exchange (the "TSX").
About Clinch Resources Ltd.
Clinch Resources Ltd. is a Tennessee-based metallurgical mining company with its corporate office located in Knoxville, Tennessee and operations in West Virginia. The Company will supply high-quality coking coal to steel-based manufacturing facilities both domestically and seaborn for critical global infrastructure. Clinch is currently opening its first two mines.
Cautionary Statements Regarding Forward-Looking Information
This news release contains certain "forward-looking information" within the meaning of applicable Canadian securities legislation. Such forward-looking information and forward-looking statements (collectively referred to hereinafter as, "forward-looking information") are not representative of historical facts or information or current conditions, but instead represent only the beliefs of the management of the Company regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the control of the Company. Generally, such forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved". The forward-looking information contained herein may include, but are not limited to, information concerning the final acceptance of the TSX in respect of the listing of the Common Shares, the supply of high-quality coking coal to steel-based manufacturing facilities for critical global infrastructure, and the development of the Company's mining projects and path to coal production.