Metalsource Mining Announces Debt Settlement Transaction
Suite 700-838 West Hastings Street
Vancouver, BC Canada V6C 0A6
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NEWS RELEASE
METALSOURCE MINING ANNOUNCES DEBT SETTLEMENT TRANSACTION
VANCOUVER, BRITISH COLUMBIA, November 26, 2024 – METALSOURCE MINING INC. (the
“Company” or "Metalsource") (CSE: “MSM”) announces that it has entered into debt settlement
agreements with certain related parties (the “Creditors”) to settle an aggregate of $47,000 in debt
(the “Debt”). In settlement of the Debt, the Company proposes to issue 235,000 common shares
in the capital of the Company (collectively, the “Shares” and each, a “Share”) at a deemed price
of $0.20 per Share (the “Debt Settlement”).
All securities issued in connection with the Debt Settlement are subject to a statutory hold period
of four (4) months plus a day from the date of issuance.
The issuance of the 235 ,000 Shares to the related parties pursuant to the Debt Settlement
constitutes a “related party transaction” as defined under Multilateral Instrument 61-101 Protection
of Minority Security Holders in Special Transactions (“MI 61-101”). The Company is relying on the
exemptions under section 5.5(a) and section 5.7(1)(a) from the formal valuation and minority
shareholder approval requirements of MI 61-101, as the fair market value of the shares issued to
the related party does not exceed 25% of the Company's market capitalization, as determined in
accordance with MI 61-101. The Company will not file a material change report 21 days prior to
the Debt settlement because the details of such Debt settlement had not been confirmed at that
time.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any
securities in the United States or to any “U.S. Person” (as such term is defined in Regulation S
under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”)) of any equity or
other securities of the Company. The securities described herein have not been, and will not be,
registered under the U.S. Securities Act or under any state securities laws and may not be offered
or sold in the Unit ed States or to a U.S. Person absent registration under the 1933 Act and
applicable state securities laws or an applicable exemption therefrom. Any failure to comply with
these restrictions may constitute a violation of U.S. securities laws.
About Metalsource Mining Inc.
The Company is engaged in the exploration and development of its mineral property assets in
Botswana and Canada. The Company’s objective is to locate and develop economic, precious
and base metal properties of merit and to conduct its exploration program on its Aruba and Old
Timer projects.
The Aruba Project consists of five prospecting licenses totaling approximately 4,663 km2
in South-Central Botswana. The Old Timer Property is located 17 km southeast of Nelson, in the
Nelson Mining Division of southern British Columbia.
For more information, please refer to SEDAR+ at www.sedarplus.ca under the Company’s profile.
ON BEHALF OF THE BOARD OF DIRECTORS
“Joseph Cullen”
Joseph Cullen,
President, Chief Executive Officer and Director
For further information, please contact:
Mr. Joseph Cullen
Phone: 778-919-8615
Email: [email protected]
Website: https://www.metalsourcemining.com/
THE CANADIAN SECURITIES EXCHANGE HAS NOT APPROVED NOR DISAPPROVED
OF THE CONTENT OF THIS PRESS RELEASE
Cautionary Note About Forward-Looking Statements
Certain of the information contained in this news release may constitute ‘forward-looking statements' within
the meaning of applicable securities laws. Such forward-looking statements involve risks, uncertainties and
other factors which may cause the actual results to be materially different from those expressed or implied
by such forward- looking statements. There can be no assurance that such statements will prove to be
accurate, as ac tual results and future events could differ materially from those anticipated in such
statements. Accordingly, readers should not place undue reliance on forward- looking statements. T he
Company does not undertake to update any forward- looking statements, except in accordance with
applicable securities laws.