Metalero Announces Debt Settlements
Metalero Mining Corp.
10545 - 45 Avenue NW
250 Southridge, Suite 300
Edmonton, AB CANADA T6H 4M9
METALERO ANNOUNCES DEBT SETTLEMENTS
Edmonton, AB – October 18, 2024 – Metalero Mining Corp. (the “Company” or “Metalero”) (TSXV:
MLO; OTCPK: CRTTF) announces that it has arranged debt settlements (the “Debt Settlements”) with
certain directors , officers, and consultant s to settle up to $710,961.32 in indebtedness for accrued
management and consulting fees, to be paid by the issuance and delivery of a total of up to 4,739,739
common shares of the Company in the aggregate, at a deemed value of $0. 15 per share. The terms of the
Debt Settlements are subject to the acceptance of the TSX Venture Exchange.
All shares issued pursuant to the Debt Settlements will be subject to resale restrictions for a period of 4
months and a day from their date of issuance. The Debt Settlements were approved by the independent
directors of the Company.
The portion of the Debt Settlements with the insider creditors of the Company (being a total of $224,453.94)
constitute related party transaction s for the purposes of Multilateral Instrument 61 -101 Protection of
Minority Security Holders in Special Transactions (“MI 61 -101”), but the Company is relying on the
exemption from the formal valuation requirement in MI 61 -101 provided under section 5.5(b) of MI 61 -
101 on the basis that the Company’s shares are not listed on any of the specified markets listed in M I 61-
101. The Debt Settlements with insiders are also exempt from the majority of the minority approval
requirement in MI 61-101 under section 5.7(1)(b) of MI 61 -101 on the basis that the fair market value of
the insiders ’ Debt Settlements is less than $2.5 million and the Debt Settlements with insiders were
approved by all of the independent directors of the Company.
About Metalero Mining Corp.
Metalero Mining Corp. is a Canadian -based junior exploration company and part of the Metals Group of
companies with offices in Vancouver and Edmonton. Metalero is undergoing a restructuring which includes
a new project focus and management change making its drill-ready gold assets in Nevada available for sale
or option.
On behalf of the Board of Directors
“Rob L’Heureux”
Rob L’Heureux, Chief Executive Officer and President
Email: [email protected]
Telephone: +1.780.437.6624
www.metalsgroup.com
Metalero is part of the Metals Group of Companies, managed by exploration
professionals who stand for technical excellence, robust project selection and
strong corporate governance, with a proven ability to identify and capitalize
on investment opportunities and deliver shareholder returns.
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This news release may contain certain “forward looking statements”. Forward -looking statements involve known and unknown
risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Company
to be materially different from any future results, performance or achievements expressed or implied by the forward -looking
statements. Any forward -looking statement speaks only as of the date of this news release and, except as may be required by
applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a
result of new information, future events or results or otherwise.
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.