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Lithos Group — Capital/Financing Update 2022
Jan 29, 2022
46827_rns_2022-01-28_9259a49c-0055-430b-a965-9c32cf4a558f.pdf
Capital/Financing Update
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ALCHEMIST MINING INCORPORATED
142 - 757 West Hastings Street Vancouver, BC V6C 1A1
Alchemist Announces Debt Settlement
VANCOUVER, BC – January 28, 2022 – Alchemist Mining Incorporated (the “ Company ”) (CSE: AMS) announces that it intends to settle debt (the “ Debt Settlement ”) in the amount of up to $300,000 owed by the Company to various creditors, including insiders of the Company, by the issuance of up to 2,500,000 common shares (each, a “ Share ”) of the Company at a deemed price of $0.12 per Share. The Debt Settlement is subject to the entry into debt settlement agreements with each of the creditors and approval of the Canadian Securities Exchange.
All securities issued in connection with the Debt Settlement will be subject to a statutory hold period expiring four months and one day after issuance of the securities.
Certain insiders will be participating in the Debt Settlement and are considered to be a “related party” within the meaning of Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“ MI 61-101 ”) and each issuance is considered to be a “related party transaction” within the meaning of MI 61-101 but each is exempt from the valuation requirement of MI 61-101 by virtue of the exemption contained in section 5.5(b) as the Company’s shares are not listed on a specified market and from the minority shareholder approval requirements of MI 61-101 by virtue of the exemption contained in section 5.7(a) of MI 61-101 in that the fair market value of the consideration of the shares to be issued to each related party does not exceed 25% of the Company’s market capitalization.
Paul Mann - CEO
For and on behalf of the board
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact Information
For more information please contact:
Alchemist Mining Incorporated
Charles Lee Investor Relations +1 604 913 5356 – Email: [email protected]
The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.