Hispania Resources Inc. Announces Financial Update

About this update from Hispania Resources Inc

Hispania Resources Inc. Announces Financial UpdateToronto, Ontario--(Newsfile Corp. - December 22, 2025) - Hispania Resources Inc. (TSXV: ESPN) ("Hispania" or the "Company") is pleased to announce a financial update for the Company, and in addition that it has received approval from the TSX Venture Exchange to close its previously announced shares for debt transaction. The Company has taken steps to improve its balance sheet over the past 60 days. These steps have included members of the management team voluntarily cancelling payables due to them totalling $1,199,032 of their own volition. Furthermore, external debt holders completed shares for debt agreements totalling $666,062 at a price of $0.10 per share, the details of the shares for debt transaction are set out in the Company's news release dated December 3, 2025. In addition to the above, the company also completed a non brokered equity financing totalling $875,000, as noted in its October 31, 2025, Press Release. Norm Brewster, CEO of Hispania noted, "we are pleased to have been able to improve the Balance Sheet of the Company as we enter a time when commodities such as copper; zinc; tin; tungsten and silver have improved significantly, some to record levels. By adding $875,000 in equity, which was less than the maximum allowable, we raised the funds needed to satisfy our needs for our current plans and opportunities in Spain. Further, to demonstrate our strong belief in the company and its future plans, members of the team voluntarily cancelled over $1.19M in fees payable; and outside debt holders completed shares for debt of over $666k, at a price above the market to show their support for the company. Cancelling over $1.86M of payables and adding $875k of equity, including from insiders and current shareholders, to our balance sheet is a great step for the company and not something often seen in junior mining. We are excited about our current and future opportunities in Spain and these financial steps indicate as much."The issuance of an aggregate of 6,660,620 common shares of the Company (the "Shares"), directly or indirectly, to certain insiders of the Company, constitutes a "related party transaction" as such term is defined in Multilateral Instrument 61-101 - Protection of Minority Securityholders in Special Transactions ("MI 61-101"), requiring the Company, in the absence of exemptions, to...

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