Magna Terra Announces Equity FOR Debt Settlement
a renewed frontier.
PRESS
RELEASE
FOR IMMEDIATE RELEASE
MAGNA TERRA ANNOUNCES EQUITY FOR DEBT SETTLEMENT
Toronto, Ontario, April 9, 2019 – Magna Terra Minerals Inc. (the “Company”
or “Magna Terra”) (TSX-V: MTT) (SSE: MTTCL) reports that its board of
directors has approved the settlement of up to $572,256.61 of debt through
the issuance of common shares of the Company (the "Debt Settlement").
Pursuant to the Debt Settlement, the Company would issue 11,445,131
common shares of the Company (the "Shares") at a deemed price of $0.05
per Share to certain creditors of the Company, including certain of its
directors and officers (the "Creditors").
The issuance of the Shares to the Creditors is subject to the approval of the
TSX Venture Exchange. All securities issued will be subject to a four month
hold period which will expire on the date that is four months and one day
from the date of issue.
As certain insiders participated in the Debt Settlement, it is considered to be
a "related party transaction" under Multilateral Instrument 61-101
- Protection of Minority Security Holders in Special Transactions ("MI 61-
101"). All of the independent directors of the Company, acting in good faith,
considered the transactions and have determined that the fair market value
of the securities being issued to insiders and the consideration being paid is
reasonable. The Company intends to rely on the exemptions from the
valuation and minority shareholder approval requirements of MI 61-101
contained in sections 5.5(b) and 5.7(b) of MI 61-101.
About Us
Magna Terra Minerals Inc. is a precious metals focused exploration
company, headquartered in Toronto, Canada. Magna Terra (MTT) has a
significant interest in the province of Santa Cruz, Argentina within the
prolific Deseado Massif in southern Patagonia. With five district scale drill
ready projects, and a highly experienced management and exploration team,
MTT is positioned to deliver significant shareholder value through the
potential for precious metals discovery(s) on its extensive portfolio. For
detailed information regarding our projects, please visit the Company’s
website at: www.magnaterraminerals.com
FOR FURTHER INFORMATION PLEASE CONTACT:
Magna Terra Minerals Inc.
Lewis Lawrick, President & CEO: 647-478-5307
Email: [email protected]
Website: www.magnaterraminerals.com
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.
Cautionary Statements Regarding Forward Looking Information
Some statements in this release may contain forward -looking information. All statements, other
than of historical fact, that address activities, events or developments that the Company believes,
expects or anticipates will or may occur in the future (including, without limitation, statements
regarding potential mineralization) are forward-looking statements. Forward-looking statements
are generally identifia ble by use of the words “may”, “will”, “should”, “continue”, “expect”,
“anticipate”, “estimate”, “believe”, “intend”, “plan” or “project” or the negative of these words
or other variations on these words or comparable terminology. Forward -looking statements are
subject to a number of risks and uncertainties, many of which are beyond the Company’s ability
to control or predict, that may cause the actual results of the Company to differ materially from
those discussed in the forward -looking statements. Factor s that could cause actual results or
events to differ materially from current expectations include, among other things, without
limitation, failure by the parties to complete the Transaction, failure to establish estimated mineral
resources, the possibility that future exploration results will not be consistent with the Company's
expectations, changes in world gold markets or markets for other commodities, and other risks
disclosed in the Company’s public disclosure record on file with the relevant securities regulatory
authorities. 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, the Company disclai m any intent or
obligation to update any forward-looking statement.