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Margaret Lake Diamonds Inc (2)
Symbol DIA
Shares Issued 26,519,431
Close 2022-11-03 C$ 0.07
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Margaret Lake shares for debt

2022-11-04 19:43 ET - Shares for Debt

The TSX Venture Exchange has accepted for filing the company's proposal to issue 806,876 units to two arm's-length parties at a deemed price of 14 cents per unit and pay $10,000 to settle the outstanding debt of $122,962.77, and to issue 892,857 units and make staged cash payments of $10,000 (paid) and $90,000 to a non-arm's-length party to settle outstanding debt for $225,000. Each unit comprises one share and one common share purchase warrant. Each warrant will entitle the holder thereof to purchase one share at a price of 28 cents per share for a period of two years from issuance.

Number of creditors:  three creditors

Insider/pro group participation:  none

For more details, please refer to the company's news releases dated July 12, 2022, Aug. 8, 2022, and Oct. 7, 2022. The company shall issue a news release when the shares are issued and the debt extinguished.

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