SLAM Exploration Settles $300,000 Debt Through Share Issuance

Slam Exploration ( (TSE:SXL) ) has shared an update.

SLAM Exploration Ltd. announced that it has settled $300,000 in debt with a non-arm’s length creditor by issuing 6,000,000 common shares at $0.05 per share, a move approved by the TSX Venture Exchange. This debt settlement, involving an insider, is classified as a related party transaction under MI 61-101, but the company will rely on exemptions from certain regulatory requirements. This strategic financial maneuver could impact SLAM’s liquidity and market operations, enhancing its stakeholder relations while maintaining compliance with securities regulations.

More about Slam Exploration

SLAM Exploration Ltd. is a public resource company that holds a large portfolio of mineral claims in New Brunswick. The company focuses on mineral exploration projects, reporting significant copper, nickel, and cobalt intercepts from its Goodwin copper nickel project in the Bathurst Mining Camp, as well as gold assay results from its Menneval gold project.

YTD Price Performance: 33.33%

Average Trading Volume: 311,967

Technical Sentiment Consensus Rating: Sell

Current Market Cap: C$4.07M

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