Magna Terra Announces Closing of Equity for Debt Settlement and Appointment of Technical Advisor
2019年6月4日 - 10:00PM
Magna Terra Minerals Inc. (the “Company” or “Magna Terra”) (TSX-V:
MTT) (SSE: MTTCL) reports that it has settled $450,059.01 of
debt through the issuance of common shares of the Company (the
"Debt Settlement"). Pursuant to the Debt Settlement, the Company
issued 9,001,179 common shares of the Company (the "Shares") at a
deemed price of $0.05 per Share to certain creditors of the
Company, including certain of its directors and officers (the
"Creditors").
All securities issued will be subject to a four month hold
period which will expire on October 1, 2019.
The Company also intends to settle an additional US$45,000 of
debt through the issuance of 1,200,960 common shares of the
Company, which is subject to disinterested shareholder approval and
the approval of TSX-Venture Exchange. The approvals will be sought
at the next annual and special meeting of shareholders to be held
in the next 90 days.
The Company is also very pleased to formally announce the
appointment of Mark Coolbaugh Ph.D. as a Technical Advisor. Mark is
Chief Geoscientist of Renaissance Gold Inc., and has approximately
30 years of exploration and research experience including as Chief
Geoscientist for AuEx, Research Assistant Professor at the Great
Basin Center for Geothermal Energy, University of Nevada, Reno;
Chief Geoscientist for Geothermal Technical Partners, Inc.,
Mongolia Exploration Manager for Cascadia Chemicals and Minerals,
and Chief Geologist for Carson Gold Corp. Mark is experienced in
the exploration, development, and production of gold, silver,
copper, and molybdenum resources in the Great Basin, Asia, and
Central and South America. Mark holds a doctorate degree in Geology
from the University of Nevada, Reno (2003), a Master of Science in
Geological Engineering from the University of Arizona (1985), and a
Bachelor of Science in Geological Engineering from the Colorado
School of Mines (1978). Upon his appointment, the Company has
granted Mark 150,000 stock options exercisable a 5 cents per share
for a period of 5 years.
About UsMagna Terra Minerals Inc. is a precious
metals focused exploration company, headquartered in Toronto,
Canada. Magna Terra (MTT) has a significant interest in the
province of Santa Cruz, Argentina within the prolific Deseado
Massif in southern Patagonia. With a recent precious metals
discovery on its Luna Roja Project, and an extensive portfolio of
district scale drill ready projects, along with a highly
experienced management and exploration team, MTT is positioned to
deliver significant shareholder value. For detailed information
regarding our projects, please visit the Company’s website at:
www.magnaterraminerals.com
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Cautionary Statements Regarding Forward Looking
Information
Some statements in this release may contain
forward-looking information. All statements, other than of
historical fact, that address activities, events or developments
that the Company believes, expects or anticipates will or may occur
in the future (including, without limitation, statements regarding
potential mineralization) are forward-looking statements.
Forward-looking statements are generally identifiable by use of the
words “may”, “will”, “should”, “continue”, “expect”, “anticipate”,
“estimate”, “believe”, “intend”, “plan” or “project” or the
negative of these words or other variations on these words or
comparable terminology. Forward-looking statements are subject to a
number of risks and uncertainties, many of which are beyond the
Company’s ability to control or predict, that may cause the actual
results of the Company to differ materially from those discussed in
the forward-looking statements. Factors that could cause actual
results or events to differ materially from current expectations
include, among other things, without limitation, failure by the
parties to complete the Transaction, failure to establish estimated
mineral resources, the possibility that future exploration results
will not be consistent with the Company's expectations, changes in
world gold markets or markets for other commodities, and other
risks disclosed in the Company’s public disclosure record on file
with the relevant securities regulatory authorities. Any
forward-looking statement speaks only as of the date on which it is
made and except as may be required by applicable securities laws,
the Company disclaim any intent or obligation to update any
forward-looking statement.
FOR FURTHER INFORMATION PLEASE CONTACT:
Magna Terra Minerals Inc.
Lewis Lawrick, President & CEO: 647-478-5307
Email: info@magnaterraminerals.com
Website: www.magnaterraminerals.com
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