Khalkos Exploration Inc - Debts Settlement by Issuance of Shares
15.04.2016 | Marketwire
MONTREAL, Apr 15, 2016 - Khalkos Exploration Inc. (TSX VENTURE:KAS) («Khalkos») announces the signing of agreements concerning share-based payment of the due debts of Khalkos to five suppliers including its main shareholder, Sirios Resources Inc. («Sirios») and ExploLab Inc., a service company which the President of Khalkos is the main shareholder. Khalkos plans to, subject to the approval of the TSX Venture Exchange, issue a total of 2,258,075 common shares, at a price of $ 0.11 per share, to settle all debts totalizing $ 248,389.The Company plans to issue common shares in order to conserve its funds. Shares to be issued will be subject to a holding period of four months and a day, and once the transaction is completed, Khalkos will have repaid all of its debts to these suppliers.
Sirios, who holds 8,019,369 shares of Khalkos, will therefore increase its position to 8,464,421 shares representing 20.14% of the share capital of Khalkos.
Neither the 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.
Contact
Khalkos Exploration Inc.
Robert Gagnon, President
(819) 825-2303
(514) 510-7964
rgagnon@khalkos.com
Christian Guilbaud, Corporate Development
(514) 813-7862
(514) 510-7964
cguilbaud@videotron.ca
www.khalkos.com