Mr. Cameron MacDonald reports
AURWEST RESOURCES ANNOUNCES CLOSING OF SHARES FOR DEBT SETTLEMENT
Aurwest Resources Corp. has
completed a shares-for-debt settlement with an arm's-length creditor, Arco Resources Ltd., by issuing an aggregate of 1,732,500 common shares of the company at a deemed price of two cents per share in full settlement of an aggregate amount of $34,650 of outstanding indebtedness in accordance with the policies of the Canadian Securities Exchange.
The company has completed the debt settlement to improve its financial position by reducing its existing liabilities. All debt settlement shares will be subject to a four-month-and-one-day hold period from the date of issuance pursuant to applicable Canadian securities law.
About Aurwest Resources Corp.
Aurwest is a Canadian-based junior resource company focused on the acquisition, exploration and development of gold properties in Canada.
We seek Safe Harbor.
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