Silver Shield Again Announces Shares for Debt Settlement
BURLINGTON, ON, June 22, 2012 /CNW/ - Silver Shield Resources (SSR-TSXV) has reached agreement with a number of Creditors for settlement of debt for shares , and will issue up a total of 6,183,428 shares to settle $ 618,342.84 of debt, subject to TSX-V approval.
All debt retired is from normal Trade Payables and were approved by the shareholders at the companies September 28,2011 annual general meeting. Debt in the amount of $ 446,067.00 is due to a private company controlled by three of the directors of Silver Shield Resources Corp. The circular outlining the shares for debt is available on sedar.com.
Management is pleased that this debt is being retired at a substantial premium to market and strengthens the companies balance sheet immensely.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
SOURCE Silver Shield Resources Corp.
Tim Towers, CEO at (289)-337-6162
Email: silvershield@cogeco.net