- Lodestar Metals Corp. (TSXV: LSTR) (OTCQB: SVTNF) settles $1.25 million debt with Silver One Resources.
- Settlement includes a $50,000 cash payment and issuance of 3 million shares at $0.05 each.
- Transaction awaits final approval from the TSX Venture Exchange.
Lodestar Metals Corp. (TSXV: LSTR) (OTCQB: SVTNF) has announced a settlement agreement with Silver One Resources, resolving a $1,250,000 debt. This settlement stems from a share purchase agreement dated November 19, 2020, along with promissory notes from March 2, 2021.
Under the terms of this agreement, Lodestar will pay Silver One $50,000 in cash and issue 3,000,000 of its common shares at a deemed price of $0.05 per share. The newly issued shares will be subject to a four-month resale restriction period.
This transaction is contingent upon receiving final approval from the TSX Venture Exchange. Once completed, Lodestar will have successfully eliminated the debt, allowing both companies to move forward.
Lodestar Metals Corp. is focused on developing its flagship Peny Property in Manitoba, Canada, and continues to seek growth through property development, acquisitions, and partnerships. For more details about Lodestar, visit their website at https://lodestarbatterymetals.ca.
