Metalex Ventures Ltd V.MTX

Shares-for-Debt Approved

[Oregonduck]

 

Metalex Ventures 32,352,942 shares for debt

 

2021-01-08 18:29 ET - Shares for Debt

 

The TSX Venture Exchange has accepted for filing the company's proposal to issue 32,352,942 shares at a deemed value of 8.5 cents per share to settle outstanding debt for $2.75-million.

Number of creditors:  one creditor

Insider:  Kel-Ex Development Ltd. (Charles Fipke), $2.75-million, 32,352,942 shares at 8.5 cents

The company shall issue a news release when the shares are issued and the debt extinguished.

 

I 

[SouthernTierTom]

I like the timing and the current value of the meaningless share price. Charles is our man, but in order to remain the public man he likely wishes to be.....taking his loan back at 8.5 cents whilst the company is valued at about 9 cents is just "good optics" ... like say Jenny selling out all her CD paper in the $6 range. ALL abord...this puppy is going much, much higher - IMHO..of

[inspecthrgadget]

Nice call Tommy and certainly not your first good piece of advice here. Wish I had bought much more when you had uncovered the bullboard scam that helped ensure this was a 3 cent stock for a looong time. Now that Chuck has his loan repaid at a price very near the current levels, I see this moving higher in the near future. The price here can be anything due to the very few that control this paper

[coolshivers]

Now that it is closed. Let's see what else they sand bagging.