Black Mammoth Metals Corporation Final Debt Settlement
No.16-07 BMM: TSX-V NEWS RELEASE SEC 12G file#82-35061
Black Mammoth Metals Corporation Final Debt Settlement
Vancouver, B.C. May 18, 2016 – Black Mammoth Metals Corporation (TSX-V: BMM / Frankfurt: LQK / OTCBB: LQRCF) (“Black Mammoth” or the “Company”) is pleased to announce that it has completed the shares for debt transaction announced on May 5, 2016 after receiving the approval of the TSX Venture Exchange to settle indebtedness to certain creditors.
Pursuant to the shares for debt transaction, the Company will be issuing 413,500 common shares (the “Shares”) in the capital of the Company at a deemed price of $0.065 per share to settle outstanding debt in the amount of $26,877.50. All Shares issued pursuant to the debt settlement are subject to a four month hold period expiring on September 19, 2016.
Dustin Henderson, a director and senior officer of the Company, received 330,000 common shares issued pursuant to the debt settlement, and as a result currently holds 1,122,170 common shares of the Company, representing 19.9% of the 5,615,286 common shares of the Company currently issued and outstanding.
Mr. Henderson has acquired the securities for investment purposes and may acquire further securities of the Company for investment purposes, in the market or privately, from time to time. A copy of the early warning report filed in connection with the acquisition of securities by Mr. Henderson is available for review under the Company’s profile on SEDAR (www.sedar.com).
On behalf of the board,
“Dustin Henderson”
Dustin Henderson, BBA President, CEO and Corporate Secretary
Black Mammoth Metals Corporation
1(604) 347-9101 - Email: [email protected]
“Neither 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.” This document includes forward- looking statements. When used in this document, the words “potential”, “plan”, ”could”, “estimate”, “expect”, “intend”, “may”, “should”, and similar expressions are intended to be among the statements that identify forward-looking statements. Although the Company believes that their expectations reflected in these forward-looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements.”