Atlas Global Resolves Cease Trade with Equity Issuance

Silver Phoenix Resources (TSE:ATL) has released an update.

Atlas Global Brands Inc. has received a Partial Revocation Order from the Ontario Securities Commission allowing the issuance of shares as partial payment for a loan by an insider lender. The move resolves potential enforcement of a security interest in a subsidiary’s assets and complies with regulatory exemptions due to the company’s financial hardship. The transaction is part of efforts to address the company’s previous failure to file cease trade order.

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