Closing in on a Billion shares out ... more dilution St. Augustine Announces a Debt Conversion of $3.2 Million 03/30/2021 08:22 PM ET
Singapore--(Newsfile Corp. - March 30, 2021) - St. Augustine Gold and Copper Limited (TSX: SAU) ("St. Augustine" or the "Company") is pleased to announce that it has entered into an agreement with its creditor and major shareholder Queensberry Mining and Development Corp. ("Queensberry"), whereby the Company agreed to convert approximately CAD$3,232,167.25 of the amount owing to Queensberry into 70,176,859 common shares of the Company ("Common Shares") at a deemed price of CAD$0.046057 per Common Share (the "Debt Conversion"). Following completion of the Debt Conversion, Queensberry will hold 288,676,859 Common Shares, representing approximately 36% of the issued and outstanding Common Shares.