Mines d'Or Orbec Inc. Announces Shares for Debt Settlement
Mines D'Or Orbec (OTCQB: BLTMF) has announced a shares-for-debt settlement agreement with a former executive. The company will issue 150,000 common shares at a deemed price of $0.509 per share to settle outstanding severance payments of $76,325.
The Board of Directors has determined this equity-based settlement is in the company's best interests to preserve cash for ongoing operations. The transaction's completion remains subject to TSX Venture Exchange approval and customary closing conditions.
Mines D'Or Orbec (OTCQB: BLTMF) ha annunciato un accordo di sistemazione mediante emissione di azioni per estinguere un debito verso un ex dirigente. La societ脿 emetter脿 150.000 azioni ordinarie a un prezzo convenzionale di $0,509 per azione per saldare indennit脿 di fine rapporto residue pari a $76.325.
Il Consiglio di Amministrazione ha ritenuto che questa soluzione in equity sia nell'interesse della societ脿 per preservare liquidit脿 a favore delle operazioni in corso. Il completamento dell'operazione 猫 subordinato all'approvazione della TSX Venture Exchange e alle consuete condizioni di chiusura.
Mines D'Or Orbec (OTCQB: BLTMF) ha anunciado un acuerdo de liquidaci贸n mediante acciones para saldar una deuda con un exejecutivo. La compa帽铆a emitir谩 150.000 acciones ordinarias a un precio considerado de $0,509 por acci贸n para cancelar pagos pendientes por despido por un total de $76.325.
El Consejo de Administraci贸n ha determinado que esta soluci贸n basada en capital es lo mejor para la compa帽铆a a fin de preservar efectivo para las operaciones en curso. La finalizaci贸n de la transacci贸n est谩 sujeta a la aprobaci贸n de la TSX Venture Exchange y a las condiciones habituales de cierre.
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Mines D'Or Orbec (OTCQB: BLTMF) a annonc茅 un accord de r猫glement dette-contre-actions avec un ancien dirigeant. La soci茅t茅 茅mettra 150 000 actions ordinaires 脿 un prix r茅put茅 de 0,509 $ par action pour r茅gler des indemnit茅s de d茅part impay茅es de 76 325 $.
Le conseil d'administration a jug茅 que ce r猫glement en actions est dans l'int茅r锚t de la soci茅t茅 afin de pr茅server des liquidit茅s pour les op茅rations en cours. La r茅alisation de l'op茅ration est subordonn茅e 脿 l'approbation de la TSX Venture Exchange et aux conditions habituelles de cl么ture.
Mines D'Or Orbec (OTCQB: BLTMF) hat eine Schulden-gegen-Aktien-Vereinbarung mit einem ehemaligen Gesch盲ftsf眉hrer angek眉ndigt. Das Unternehmen wird 150.000 Stammaktien zu einem festgelegten Preis von $0,509 pro Aktie ausgeben, um ausstehende Abfindungszahlungen in H枚he von $76.325 zu begleichen.
Der Vorstand ist zu dem Schluss gekommen, dass diese auf Eigenkapital basierende Regelung im besten Interesse des Unternehmens liegt, um Bargeld f眉r den laufenden Betrieb zu schonen. Der Abschluss der Transaktion steht unter dem Vorbehalt der Zustimmung der TSX Venture Exchange und 眉blicher Abschlussbedingungen.
- Preserves cash reserves for ongoing operations by settling debt with shares
- Reduces outstanding liabilities by $76,325
- Dilution of existing shareholders through issuance of 150,000 new shares
- Settlement with former executive indicates recent management changes
Brossard, Qu茅bec--(Newsfile Corp. - September 5, 2025) - Mines D'Or Orbec Inc. (TSXV: BLUE) (OTCQB: BLTMF) (the "Company" or "Orbec") announces that it has entered into a debt settlement agreement with a former executive of the Company to settle outstanding indebtedness with respect for severance payments owed in the amount of
Closing of the transaction is subject to customary closing conditions, including the approval of the TSX Venture Exchange.
About Orbec
Orbec is a gold company that owns
ON BEHALF OF THE BOARD
John Tait, CEO and Director
For more information, please visit our website or contact Mr. John Tait, [email protected].
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements
This news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections, and interpretations as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance including, but not limited to, the completion of the shares for debt transaction and the required approvals from the TSX Venture Exchange. Forward-looking information may be identified by phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved, are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This forward-looking information is based on reasonable assumptions and estimates of management of the Company, at the time it was made, involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions, the parties cannot assure shareholders and prospective purchasers of securities that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither the Company nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. The Company does not undertake, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law.
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FAQ
What is the value of BLTMF's shares for debt settlement announced on September 5, 2025?
How many shares will Mines D'Or Orbec issue for the debt settlement?
Why is BLTMF settling debt with shares instead of cash?
What approvals are needed for BLTMF's debt settlement agreement?
Who is the debt settlement agreement with?
