Vancouver, British Columbia--(Newsfile Corp. - July 19, 2024) - Oracle Commodity Holding Corp. (TSXV: ORCL) (OTCQB: ORLCF) ("Oracle" or the "Company") announces that it has entered into an agreement to settle $10,000 of debt owed to a director of the Company for management fees in consideration for the issuance of 105,263 common shares of the Company at a deemed price of $0.095 per share (the "Debt Settlement").
The insider debt settlement of $10,000 and 105,263 common shares are exempt from the valuation and minority shareholder approval requirements of Multilateral Instrument 61-101 ("MI 61-101") by virtue of the exemptions contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in that the fair market value of the consideration for the securities of the Company to be issued to insiders does not exceed 25% of its market capitalization. All securities issued pursuant to the Debt Settlement will be subject to a statutory four month hold period.
About Oracle Commodity Holding Corp.
Oracle Commodity Holding Corp. is a mining royalty company spun out from Silver Elephant Mining Corp. (TSX: ELEF) in 2022.
Further information on Oracle Commodity can be found at www.oracleholding.com.
ORACLE COMMODITY HOLDING CORP.
ON BEHALF OF THE BOARD
"Anthony Garson"
CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/217117
