Demesne Resources Ltd. Announces Debt Settlement Through Issuance of Shares
DEMESNE RESOURCES LTD. ANNOUNCES DEBT SETTLEMENT
THROUGH ISSUANCE OF SHARES
/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES/
TORONTO, October 20, 2023/CNW/ - Demesne Resources Ltd. (CSE:DEME) (“Demesne” or
the “Company”) announces that in order to settle certain debts of the Company, Demesne intends
to issue to three consultants (the “Consultants”) an aggregate of 214,000 common shares in the
capital of the Company (the “ Shares”) at a price of CAD$0.1 0 per Share in full and final
satisfaction of approximately CAD$21,400 owing to the Consultants for services rendered (the
“Shares for Debt Transaction ”). The Shares are being issued at a price equal to the closing
market price of the common shares of the Company as listed on the Canadian Securities
Exchange (“CSE”) on October 20, 2023, being CA$0.10, in accordance with the policies of the
CSE.
The Company is completing the Shares for D ebt Transaction to improve its financial position by
reducing its existing liabilities. All Shares issued by the Company to the Consultants will be subject
to a four -month and one -day hold period. The Shares for Debt Transaction remains subject to
CSE acceptance. No new control person of the Company will be created pursuant to the Shares
for Debt Transaction.
ABOUT DEMESNE RESOURCES LTD.
Demesne Resources Ltd. is a British Columbia based company involved in the acquisition and
exploration of magnetite mineral properties, with a focus on mineral properties located in British
Columbia. The Company's sole property is the Star Project, consisting of five contiguous mineral
titles covering an area of approximately 4,615.75 hectares located in the Skeena Mining Division,
British Columbia, Canada. The Company has entered into an option agreement pursuant to which
it is entitled to earn an undivided 100% interest in the Star Project.
FORWARD–LOOKING STATEMENTS
This news release may include forward -looking statements that are subject to risks and
uncertainties. All statements within, other than statements of historical fact, are to be considered
forward looking.
Generally, such forward -looking statements can be identified by the use of forward -looking
terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled",
"estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or
variations of such words and phrases or may contain statements that certain a ctions, events or
results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be
achieved". Forward-looking statements in this news release include statements with respect to
the Shares for Debt Transaction, includin g the terms, timing, CSE approval and completion
thereof.
Although the Company believes the expectations expressed in such forward-looking statements
are based on reasonable assumptions, such statements are not guarantees of future performance
and actual results or developments may differ materially from those in forward-looking statements.
Factors that could cause actual results to differ materially from those in forward -looking
statements include risks associated with general economic conditions, adverse industry events,
marketing costs, loss of markets, future legislative and regulatory developments, the inability to
access sufficient capital on favourable terms, income tax and regulatory matters, the ability of the
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Company to execute its business strate gies and risks associated with the Company's common
shares trading on the CSE.
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 undertakes no obligation to update or
revise any forward–looking statements, whether as a result of new information, future events or
otherwise. New factors emerge from time to time, and it is not possible for the Company to predict
all of them, or assess the impact of each such f actor or the extent to which any factor, or
combination of factors, may cause results to differ materially from those contained in any forward–
looking statement. Any forward–looking statements contained in this news release are expressly
qualified in their entirety by this cautionary statement.
Although we believe that the assumptions inherent in the forward -looking statements are
reasonable, there can be no assurances that such statements will prove accurate and, therefore,
readers are advised to rely on their own evaluation of such uncertainties. We do not assume any
obligation to update any forward-looking statements except as required under the applicable laws.
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES
PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE CANADIAN
SECURITIES EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR
ACCURACY OF THIS RELEASE.
SOURCE Demesne Resources Ltd.
For further information: Demesne Resources Ltd., Adam Vi rani, CEO, Corporate Secretary and
Director, Email: [email protected]; Phone: +56 9-4770-8252