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Southstone Minerals Ltd V.SML

Alternate Symbol(s):  FDGMF

Southstone Minerals Limited is a Canadian junior mining company. The Company is engaged in the acquisition, exploration, evaluation, development and mining of mineral properties. The Company holds a 43% interest in the Oena Diamond Mine (Oena), which is located in the Northern Cape Province, Republic of South Africa that consists of one New Order Mining Lease. Oena is a producing alluvial diamond property. Oena is approximately 8,800 hectares in size and covers a 4.8 kilometers (kms) wide strip along a 15 kms length of the lower Orange River. The property has two separate and distinctly different aged diamondiferous bearing paleochannel gravels: Proto-terraces and Meso-terraces. Its subsidiaries include TGV Resources (Pty) Ltd, African Star Minerals (Pty) Limited and GAH Mining (Pty) Ltd.


TSXV:SML - Post by User

Post by kijijion May 28, 2020 3:37pm
276 Views
Post# 31084293

Shares for debt.

Shares for debt.
Southstone Minerals Ltd. has agreed to settle outstanding indebtedness in the sum of $705,456.75 by the issuance of 7,524,872 common shares in the capital stock of the company at a price of 9.375 cents per share, which transaction is subject to the approval of the TSX Venture Exchange.
 
CC Mining Ltd. has agreed to settle indebtedness in the sum of $498,363 by the issuance of 5,315,872 common shares, resulting in CC Mining holding 19.9 per cent of the outstanding shares of the company. In addition, two directors have agreed to settle indebtedness for an aggregate sum of $207,093.75 by the issuance of an aggregate of 2,209,000 common shares.
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