Stuhini Announces Debt Settlement
Stuhini Announces Debt Settlement
VANCOUVER, BC
,
Sept. 20, 2021
/CNW/ - Stuhini Exploration Ltd. (the "
Company
" or
Stuhini
")
(TSXV: STU) is pleased to announce that it has agreed to issue 48,936 common shares of the
Company (the "
Debt Shares
") on a "shares-for-debt" basis in settlement of a debt of
$23,000
owing
to its Vice–President Exploration, Ehsan Salmabadi (the "
Debt
"). The Debt Shares are being issued
at a deemed price of
$0.47
per share, in accordance with the policies of the TSX Venture Exchange
(the "
TSX-V
").
The issuance of the Debt Shares to Mr. Salmabadi constitutes a "related party transaction" within
the meaning of the TSX-V Policy 5.9 (the "
Policy
") and Multilateral Instrument 61-101 - Protection of
Minority Security Holders in Special Transactions ("
MI 61-101
") adopted in the Policy. The Company
intends to rely on the exemptions from the formal valuation and minority shareholder approval
requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 as neither the
fair market value (as determined under MI 61-101) of the Debt Shares, nor the Debt, exceeds 25%
of the Company's market capitalization (as determined under MI 61-101).
The issuance of the Debt Shares is subject to the approval of the TSX-V. Any Debt Shares 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.
About Stuhini Exploration Ltd.
Stuhini is a mineral exploration company focused on the exploration and development of precious
and base metals properties in western
Canada
. The Company's portfolio of exploration properties
includes its flagship Ruby Creek Property located approximately 20 kilometres ("
km
") east of
Atlin,
BC
; the Que Property located approximately 70 km north of Johnson's Crossing in the
Yukon
; the
South Thompson Project located approximately 35 km northwest of
Grand Rapids, Manitoba
; and
the Big Ledge Property located approximately 57 km south of
Revelstoke, BC
.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
We seek Safe Harbor
SOURCE
Stuhini Exploration Ltd.
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%SEDAR: 00046568E
For further information:
David O'Brien, President & Chief Executive Officer, Telephone: (604) 835-
4019, Email: [email protected]
CO: Stuhini Exploration Ltd.
CNW 18:52e 20-SEP-21