LIVE Announces Debt Settlement
Vancouver, British Columbia — (Newsfile Corp. — September 19, 2023) — Live Energy Minerals Corp. (CSE: LIVE) (OTC Pink: GTREF) (“LIVE” or the “Company”) is pleased to announce that its board of directors has approved the settlement of an aggregate principal amount of $140,000 in debt for a property option payment through the issuance of common shares of the Company (the “Debt Settlement”).
Pursuant to the Debt Settlement agreement dated September 19, 2023, the Company proposes to issue 200,000 common shares of the Company (the “Shares”) at a deemed price of $0.70 per Share to Divitiae Resources Ltd., a private company controlled by Adrian Smith, the CEO and a Director of the Company (the “Vendor”).
The Debt Settlement transaction is a “related party transaction” as defined under Multilateral Instrument 61-101 (“MI 61-101”). The transaction is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as the fair market value of the transaction does not exceed 25% of the market capitalization of LIVE, as determined in accordance with MI 61-101.
All securities issued will be subject to a statutory hold period which will expire on the date that is four months and one day from the date of issuance.
About LIVE Energy Minerals Corp.
LIVE is a mining exploration company actively engaged in exploring for and identifying new opportunities in clean energy minerals in North and South America.
For further information
Adrian Smith, Chief Executive Officer & Director Live Energy Minerals Corp. Email: adrian@liveenergyminerals.com · Phone: 604-687-2038
Source: original announcement
Live Energy Minerals Corp.
Adrian Smith, Chief Executive Officer
info@liveenergyminerals.com · 604-687-2038
Neither the Canadian Securities Exchange nor the Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.