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Merida Minerals Holdings Inc ( (TSE:ESPN) ) has issued an update.
Hispania Resources Inc. has announced a shares-for-debt transaction to settle $666,062 in indebtedness by issuing 6,660,620 common shares at a price of $0.10 per share. This transaction involves certain insiders and external consultants and is pending approval from the TSX Venture Exchange. The issuance constitutes a related party transaction, but the company intends to rely on exemptions due to the transaction’s value being below 25% of the company’s market capitalization. This move is expected to improve the company’s financial position and streamline its operations.
More about Merida Minerals Holdings Inc
Hispania Resources Inc is a mineral exploration company focused on mining opportunities in Spain, particularly in copper, zinc, and tin projects. The company is developing three core assets, including the Otero copper and zinc project, the Lumbrales tin project, and the Puebla de la Reina copper and zinc project. The management team has extensive experience in mineral exploration and production, having successfully managed multiple international mining companies.
Average Trading Volume: 94,485
Technical Sentiment Signal: Hold
Current Market Cap: C$4.39M
Learn more about ESPN stock on TipRanks’ Stock Analysis page.