Rockland Resources announces debt settlement agreements to clear $172,500 of outstanding debt. The settlement involves issuing 3,450,000 Units at $0.05 per Unit, each comprising one common share and half a warrant. Additionally, the company grants 475,000 options to consultants and directors at $0.05 for a period of 2 years.
), announces it has entered into debt settlement agreements with certain creditors to settle outstanding indebtedness totalling $172,500 through the issuance of 3,450,000 Units at a deemed price of $0.05 per Unit. Each unit will consist of one common share and one half of one common share purchase warrant. Each whole warrant entitles the holder to purchase one additional common share of the Company at a price of $0.10 per warrant share for a period of 24 months.
All securities issued in connection with the debt settlement will be subject to restrictions on resale for a period of four months and one day in accordance with applicable securities laws. Completion of the debt settlement remains subject to regulatory and board approvals and completion of customary filings with the Canadian Securities Exchange.
Rockland further announces it has set 475,000 options to consultants and directors of the Company at a price of $0.05 for a period of 2 years in accordance with the Company's stock option plan.Rockland Resources is engaged in the business of mineral exploration and the acquisition of mineral property assets for the benefit of its shareholders.Neither the Canadian Stock Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
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FINANCE DEBT SETTLEMENT STOCK OPTIONS MINING ROCKLAND RESOURCES
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