Mr. Rasool Mohammad reports
ARYA RESOURCES COMPLETES SHARES FOR DEBT
Arya Resources Ltd. has received TSX Venture Exchange acceptance for and closed a shares for debt transaction (the SFD), issuing 2,647,010 common shares at a deemed price of five cents per share to settle $132,350 in liabilities. The shares are subject to a hold period expiring July 29, 2025.
Rasool Mohammad, chief executive officer of the company, acquired 1,344,780 shares, representing 4.74 per cent of the postclosing issued and outstanding shares of the company. This insider participation in the SFD constitutes a related party transaction under the policies of the TSX Venture Exchange and Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions (MI 61-101), and the company is relying upon the exemptions from the formal valuation and minority shareholder approval requirements contained in sections 5.5(a) and (b), and 5.7(1)(a), respectively, of MI 61-101 on the basis that neither the fair market value of the subject matter of nor the consideration for the transaction, insofar as it involves interested parties, exceeds 25 per cent of the issuer's market capitalization; and no securities of the company are listed or quoted on a certain exchanges or markets specified in MI 61-101.
About Arya Resources Ltd.
Arya Resources is listed on the TSX Venture Exchange as a Tier 2 mining and mineral exploration issuer. The company is focused on acquiring, exploring and development of critical minerals as well as energy metals projects including gold, uranium, lithium and rare-earth elements in stable jurisdictions.
We seek Safe Harbor.
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