15:02:24 EDT Sat 18 May 2024
Enter Symbol
or Name
USA
CA



Gold'n Futures Mineral Corp
Symbol FUTR
Shares Issued 190,161,242
Close 2023-12-13 C$ 0.015
Market Cap C$ 2,852,419
Recent Sedar Documents

Gold'n Futures closes $76,000 debt settlement

2023-12-13 17:37 ET - News Release

Mr. Stephen Wilkinson reports

GOLD'N FUTURES ANNOUNCES DEBT SETTLEMENT

Gold'n Futures Mineral Corp. has closed the previously announced debt settlement agreements to settle outstanding cash payments owed to two creditors totalling $76,000 for legal, accounting and corporate administration fees. Pursuant to the settlement agreements, the company issued an aggregate of 7.6 million common shares at a deemed price of one cent per share, based on a 20-day volume-weighted average price (VWAP).

The company relied on the "employee, executive officer, director and consultant" exemption contained in Section 2.24 of National Instrument 45-106 Prospectus Exemptions, to issue the shares to the creditors. Securities issued under the exemption are subject to a seasoning period, however they are not subject to a four-month-and-one-day resale restriction.

One settlement agreement in the amount of $46,000 was with Fish Purdy LLP., a company partially controlled by Matthew Fish, a director of the company, and accordingly this was a related party transaction as such term is defined by Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions. The company relied on the exemption from formal valuation and minority shareholder approval requirements set out in MI 61-101 as the fair market value of the transaction did not exceed 25 per cent of the market capitalization of the company, as determined in accordance with MI 61-101.

About Gold'n Futures Mineral Corp.

Gold'n Futures Mineral is a mineral exploration company with two advanced Canadian gold projects. The Hercules gold project is 195 km northeast of Thunder Bay, Ont., in the Beardmore-Geraldton gold mining camp. It is 54 km north west of Equinox Gold's Greenstone gold mine that reportedly boasts 5.5 million ounces of proven and probable reserves. The Hercules property consists of 425 contiguous claims (11,370 ha). From the historical and its current work, the company has built a comprehensive database and model and is preparing a new mineral resource estimate based upon current and historical drilling totalling the order of 537 holes comprising 114,000 m of core.

The Brady-Huxter gold project is in central Newfoundland, 50 kilometres southeast of the town of Gander. The Brady-Huxter property consists of nine mineral licences, which cover 2,350 hectares and contains two large porphyry-hosted gold deposits, the Reid and Mosquito Hill. These deposits have a combined drill-defined historical resource estimate of 59.5 million tonnes containing 938,753 ounces of indicated and inferred gold mineralization (see Gold'n Futures news of Oct. 16, 2023).

Gold'n Futures is conducting programs to expand its gold resources and to develop viable gold mining operations through the application of extensive geological experience and knowledge combined with advanced technologies and computer modelling.

We seek Safe Harbor.

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