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



Molten Metals Corp
Symbol MOLT
Shares Issued 16,914,288
Close 2024-03-28 C$ 0.025
Market Cap C$ 422,857
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Molten Metals director to lend company up to $100,000

2024-04-03 17:23 ET - News Release

Mr. Brooklyn Reed reports

MOLTEN METALS ANNOUNCES LOAN AGREEMENT

Molten Metals Corp. has entered into a loan agreement with a director of the company pursuant to which the company may borrow $100,000. Amounts borrowed will bear interest at a rate of 15 per cent per annum and will be due and payable on March 7, 2025. Pursuant to the loan agreement, the company will issue to the lender 800,000 bonus shares of the company at a price of 2.5 cents per share.

The lender is a related party to the company and the loan constitutes a related-party transaction pursuant to Multi-Lateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions. The company is relying on the exemptions from the formal valuation requirements contained in Section 5.5(b) of MI 61-101 and the minority shareholder approval requirements contained in Section 5.7(1)(b) of MI 61-101.

About Molten Metals Corp.

Molten Metals is developing antimony and antimony-gold mining projects. Antimony is a critical element with many industrial applications, including ammunition and fire retardants. The upcoming potential new usage is in the mass-storage devices (that is, molten-salt batteries).

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