Pambili Natural Resources Corporation V.PNN

Shares for Debt

[toooldtosave]

2021-11-16 18:50 ET - Shares for Debt

 

The TSX Venture Exchange has accepted for filing the company's proposal to issue 31,164,310 shares at a deemed price of three cents per share to settle outstanding debt for $934,929.31.

 

Number of creditors:  13 creditors

Insiders:  600086 Alberta Ltd. (N. Desmond Smith), $317,136, 10,571,200 shares at three cents; Genet Consulting Ltd. (Jonathan Harris), $58,432.05, 1,947,735 shares at three cents; Sea Ar Enterprises (Ray Gertz), $130,335.03, 4,344,501 shares at three cents; Base One Consulting (Jeff Saxinger), $104,056.40, 3,468,546 shares at three cents; MJ Holub Financial Accounting (Mike Holub), $62,194, 2,073,133 shares at three cents

 

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

[Tunerz]

So that would suggest the company see's the mid-term value of their shares at .03 no? So everything below that point would be a deal I assume based on this?

[Qwerty123456]

Question I have is where did the 3 cents per share come from? Perhaps 1.5 cents therefore is a good entry point for further accumulation. Time will tell. GLTA.