Mr. Steven Goldman reports
COMSTOCK ANNOUNCES SHARES FOR DEBT TRANSACTION
Comstock Metals Ltd. proposes to issue an aggregate of 500,000 common shares in satisfaction of $25,000 of indebtedness. This indebtedness is owing to the optionor of the company's QV property for the 2018 advance royalty payments. The deemed issue price of the common shares for this indebtedness is five cents per share.
The company is satisfying the foregoing indebtedness with common shares based on the terms of prior agreements that permit it to do so and in order to preserve its cash for use on its properties and for working capital. The shares will be issued upon acceptance by the TSX Venture Exchange. The common shares issued in satisfaction of the indebtedness will be subject to a four-month hold period from the date of issuance.
About Comstock Metals Ltd.
Comstock Metals is a Canadian-focused mineral exploration company with various resources projects located in Canada.
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