Lodestar Metals Settles Indebtedness with Silver One Resources Inc.
Lodestar Metals Settles Indebtedness with
Silver One Resources Inc.
Vancouver, British Columbia--(Newsfile Corp. - April 22, 2025) -
Lodestar Metals Corp.
(TSXV: LSTR)
(OTCQB: SVTNF)
("
Lodestar
" or the "
Company
"), announces that it has entered into a settlement
agreement with Silver One Resources Inc. ("
Silver One
") whereby the Company and Silver One have
agreed to a complete settlement of the $1,250,000 indebtedness (the "
Indebtedness
") owed by the
Company to Silver One under a share purchase agreement dated November 19, 2020, as amended,
and certain promissory notes dated March 2, 2021.
In consideration of Silver One's release of the Indebtedness, the Company has agreed to pay $50,000 to
Silver One and issue 3,000,000 common shares of the Company (the "
Shares
") to Silver One at a
deemed price of $0.05 per Share.
Following the cash payment and Share issuance to Silver One, the
Company will no longer be indebted to Silver One.
Further, the settlement allows both companies to
move forward.
The Shares will be subject to restrictions on resale for a period of four months from the date of issue.
The
transaction is subject to final acceptance by the TSX Venture Exchange.
About Lodestar Metals Corp.
Lodestar Metals Corp. is a Canadian mining exploration company. The Company's 100% owned
flagship Peny Property comprises 47 mineral claims totaling 11,191 hectares in the Snow Lake District,
Manitoba, with access to tier-1 existing infrastructure. The Lodestar business plan calls for a dynamic
combination of developing its existing properties, acquisitions, and partnerships to achieve growth. For
more information, visit
https://lodestarbatterymetals.ca
.
Contacts
Lodestar Metals Corp.
Lowell Kamin, President, CEO & Chairman of the Board
(416) 272-1241
Forward-Looking Statements
The information set forth in this news release contains forward-looking statements based on
assumptions as of the date of this news release. These statements reflect management's current
estimates, beliefs, intentions, and expectations. They are not guarantees of future performance.
Lodestar cautions that all forward-looking statements are inherently uncertain and that actual
performance may be affected by several material factors, many of which are beyond Lodestar's control.
Such factors include, among other things, risks and uncertainties relating to Lodestar's limited operating
history and the need to comply with environmental and governmental regulations. Accordingly, actual and
future events, conditions and results may differ materially from the estimates.
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.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/249441