Western Atlas Resources (TSE:WA) has released an update.
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Western Atlas Resources Inc. is improving its financial position by settling a CAD$30,000 debt with its CEO through the issuance of 2 million shares, while also entering a new CAD$43,000 unsecured note loan agreement carrying a 2.3% annual interest. This strategic move, aimed at maintaining the company’s ongoing operations, will increase the CEO’s ownership to approximately 12.4% of the company’s common shares. The transactions are subject to the final approval of the TSX Venture Exchange.
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