Metalite Announces Shares for Debt Transactions
Metalite Announces Shares for Debt
Transactions
Toronto, Ontario--(Newsfile Corp. - May 1, 2025) - Metalite Resources Inc. (CSE: METL) (OTC Pink:
JNCCF) (FSE: D68) ("
Metalite
" or the "
Company
") is pleased to announce that the Company has
arranged shares for debt transactions to settle an aggregate of $126,490.69 of indebtedness owing to
three arm's length consultants.
Pursuant to the shares for debt settlements a total of 5,749,576 common shares ("
Settlement Shares
")
will be issued at a deemed price of $0.022 per share.
The Settlement Shares will be issued subject to prospectus exemptions available pursuant to Canadian
securities law and will be subject to a four month hold period which will expire on the date that is four
months and a day following the issuance.
About Metalite Resources Inc.
Metalite Resources Inc. is a Canadian junior mineral exploration issuer with a precious metals focused
project in NSW, Australia.
Contact Information
Metalite Resources Inc.
Chris Hazelton, CEO
(647) 660-8718
Forward-Looking Statements
This news release contains certain "forward-looking statements." All statements, other than
statements of historic fact, that address activities, events or developments that Metalite believes,
expects or anticipates will or may occur in the future are forward-looking statements. Forward-looking
statements are often, but not always, identified by the use of words such as "seek," "anticipate,"
"believe," "plan," "estimate, "expect," and "intend" and statements that an event or result "may," "will,"
"can," "should," "could," or "might" occur or be achieved and other similar expressions. These
forward-looking statements reflect the current expectations or beliefs of Metalite based on information
currently available to Metalite. Forward-looking statements are subject to a number of risks and
uncertainties that may cause the actual results of Metalite to differ materially from those discussed in
the forward-looking statements, and even if such actual results are realized or substantially realized,
there can be no assurance that they will have the expected consequences to, or effects on Metalite.
Forward looking statements in this press release include statements regarding the proposed debt
settlement transactions and the timing thereof. Factors that could cause actual results or events to
differ materially from current expectations include, among other things, failure to obtain all necessary
approvals for the completion of the transactions discussed herein. Any forward-looking statement
speaks only as of the date on which it is made and, except as may be required by applicable
securities laws, Metalite disclaims any intent or obligation to update any forward-looking statement,
whether as a result of new information, future events or results or otherwise. Although Metalite believes
that the assumptions inherent in the forward-looking statements are reasonable, forward-looking
statements are not guarantees of future performance and accordingly undue reliance should not be
put on such statements due to the inherent uncertainty therein.
Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility
for the adequacy or accuracy of this release, and have in no way passed upon the merits of the
proposed transactions and has neither approved nor disapproved the contents of this news release.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/250368