08:02:28 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Arco Resources Corp (3)
Symbol ARR
Shares Issued 2,506,922
Close 2015-06-11 C$ 0.055
Market Cap C$ 137,881
Recent Sedar Documents

Arco closes 2.01-million-share issuance for debt

2015-06-15 18:33 ET - News Release

Mr. Warren McIntyre reports

ARCO COMPLETES SHARES-FOR-DEBT TRANSACTIONS

Arco Resources Corp. has completed the shares-for-debt transactions previously announced on June 3, 2015, issuing 2,018,600 common shares at a deemed price of five cents per common share for a negotiated aggregate settlement amount of $100,930. The transactions were completed by way of settlement agreements with certain of its trade creditors, consultants and management to extinguish aggregate debt totalling over $233,000. Insiders receiving shares include Jeff Sheremeta (100,000), Reflex Law Corp. (Mr. Sheremeta) (200,000) and Matrix 1 Capital Corp. (Teresa Rzepczyk) (180,000). The common shares issued pursuant to the settlement agreements are subject to a four-month-plus-one-day hold period from the date of issuance.

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