Mr. John Gomez reports
INOMIN SETTLES PAYABLES
Inomin Mines Inc. has entered into a debt settlement agreement with Norton Rose
Fulbright Canada LLP to settle $41,295 of payables owed to Norton for
legal services. The company will issue 344,125 common
shares at a deemed price of 12 cents per share to Norton to settle the payables.
The company decided to settle the payables with shares in order to preserve its cash for other
obligations, as well as to pursue acquisition opportunities. Inomin appreciates Norton's
willingness to settle the payables in shares of the company. Information about Norton is
available on its website.
The completion of the shares-for-debt transaction is subject to the approval of the TSX Venture
Exchange. All shares issued will be subject to a four-month hold period which will expire on the
date that is four months and one day from the date of issue.
About Inomin Mines
Inomin Mines is engaged in the identification, exploration and development of mineral
properties. The company holds a 100-per-cent interest in the King's Point polymetallic (gold-copper-zinc) project in Newfoundland's prolific Green Bay mineral region.
We seek Safe Harbor.
© 2019 Canjex Publishing Ltd. All rights reserved.