Corsurex Announces Debt Settlements
#804 – 750 West Pender Street, Vancouver, BC, V6C 2T7
T: 604.682.2928 / F : 604.685.6905
Corsurex Announces Debt Settlements
Vancouver, British Columbia / May 8, 2020 - Corsurex Resource Corp . (CSE: CRC ) (the
“Company”) announces that it issued an aggregate of 8,000,000 common shares (the “ Shares”) of the
Company, having a deemed value o f $ 0.05 per Share, pursuant to past consulting and other services
provided to the Company for the total amount of $400,000 (the “Debt Settlement”).
Adrian Hobkirk, CEO and a director of the Company received 2,000,000 Shares, Christopher P. Cherry,
CFO and a d irector of the Company received 2,000,000 Shares, Allen V. Ambrose, a director of the
Company received 1,000,000 Shares and Jan Urata, corporate secretary of the Company received 500,000
Shares pursuant to the Debt Settlement transaction. As a result, the Debt Settlement transaction is a
related party transaction (as defined under Multilateral Instrument 61-101 Protection of Minority Security
Holders in Special Transactions (“MI 61-101”). The Company relied upon section 5.5(b) the “Issuer Not
Listed on Specified Markets” and 5.7(a) the “Fair Market Value Not More than $2,500,000” and
exemptions from the formal valuation a nd minority shareholder approval requirements, respectively,
under MI 61-101.
All securities issued are subject to a statutory four month hold period.
ON BEHALF OF THE BOARD OF DIRECTORS
Adrian Hobkirk,
President, CEO and Director
The CSE and Information Service Provider have not reviewed and does not accept responsibi lity for the
accuracy or adequacy of this release.