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The latest update is out from Silk Road Energy ( (TSE:REC) ).
Record Resources, a company listed on the TSX Venture Exchange, has entered into a debt settlement agreement to issue 6,000,000 common shares to a consultant in exchange for settling $300,000 in outstanding debt. This strategic move aims to preserve cash resources and streamline the company’s balance sheet as it continues to advance its exploration strategy. The transaction is pending customary closing conditions and regulatory approval, with the issued shares subject to a statutory hold period.
More about Silk Road Energy
Average Trading Volume: 191,308
Technical Sentiment Signal: Sell
Current Market Cap: C$2.26M
See more insights into REC stock on TipRanks’ Stock Analysis page.