Aftermath Silver Ltd. Issues Shares For Debt
Aftermath Silver Ltd. Issues Shares For Debt
Vancouver, British Columbia--(Newsfile Corp. - June 14, 2018) -
Aftermath Silver Ltd.
(
TSXV: AAG.H
) ("
Aftermath
" or the
"
Company
") reports that further to its News Release disseminated on December 15, 2017, a total of
7,132,005 common
shares of the Company were issued, at a deemed price of $0.10 per Share, to settle debts of $713,200.50 to certain creditors
of the Company, including certain of its directors and officers.
All securities issued were subject to a four month hold period which will expire on the date that is four months and one day from
the date of issue.
As certain insiders participated in the Debt Settlement, it is considered to be a "related party transaction" under Multilateral
Instrument 61-101 -
Protection of Minority Security Holders in Special Transactions
("
MI 61-101
").
All of the independent
directors of the Company, acting in good faith, considered the transactions and have determined that the fair market value of the
securities being issued to insiders and the consideration being paid is reasonable. The Company intends to rely on the
exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(b) and
5.7(b) of MI 61-101.
ON BEHALF OF THE BOARD OF DIRECTORS
"Michael Williams"
Michael Williams
Executive Chairman
604-484-7855
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statement Regarding "Forward-Looking" Information.
Certain statements
contained in this press release may constitute forward-looking statements. Such forwa
rd-looking
statements are based
upon Aftermath Silver's reasonable expectations at the date hereof, which are
subject to change
depending on
economic, political and competitive circumstances and contingencies. Readers are cautioned that such
forward
looking
statements involve known and unknown risks, uncertainties and other factors
that may cause a change in
such
assumptions and the actual outcomes and estimates to be materially different from
those estimated or anticipated
future results, achievements or position expressed or implied by those forward-looking s
tatements. Risks, uncertainties
and
other factors that could cause Aftermath Silver's plans or prospects to change in
clude changes or disruptions in
the securities
markets; legislative, political or economic developments. Aftermath Si
lver disclaims any intention or
obligation to update or
revise any forward-looking statements whether as a result of new information, future events
or otherwise.
This press release is not for distribution or dissemination in the United States and accordingly, shall not constitute
an
offer of
securities in the United States. The securities that may be issued pursuant to this press release are not currently qualified by
prospectus or registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), or the laws of any state,
and may not be offered or sold in the United States, or to, or for the account or benefit
of United States persons (as defined in
Regulation S under the Securities Act) or persons in the United States absent
registration or an applicable exemption from
the registration requirements. The securities are subject to resale
restrictions under applicable securities laws.
Not for dissemination in the United States or through U.S. newswires