IDM Mining Ltd. Announces Debt Settlement
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct 12, 2016) - IDM Mining Ltd. (TSX VENTURE:IDM) ("IDM" or the "Company") announces that the Company has agreed to issue 3,750,000 common shares of the Company at a deemed price of C$0.17 and make a US$50,000 cash payment to a creditor in settlement of certain debts related to the Company's past operations in Mexico. The debt settlement is subject to approval of the TSX Venture Exchange.
About IDM Mining Ltd.
IDM Mining Ltd. is mineral exploration and development company (TSX VENTURE:IDM) based in Vancouver, BC, Canada. The Company's current exploration and development activities are focused on precious metals in British Columbia and Yukon, with a primary focus on the high grade underground Red Mountain project, which has entered the BC and Canadian environmental assessment process. Further information can be found on the Company's website at www.IDMmining.com.
ON BEHALF OF THE BOARD of IDM Mining Ltd.
Robert McLeod,President, CEO and Director
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact
IDM Mining Ltd.
Robert McLeod
604-681-5672
604-617-0616 cell
rm@idmmining.com
IDM Mining Ltd.
Shobana Thaya
Investors Relations
416-807-1009
st@idmmining.com
IDM Mining Ltd.
Alex Horsley
Investors Relations
604-618-3058
ah@idmmining.com
www.IDMmining.com