Deer Horn closes debt settlement, issues 2.18M units
2020-01-10 18:06 ET - News Release
Mr. Tyrone Docherty reports
DEER HORN ANNOUNCES COMPLETION OF DEBT SETTLEMENT TRANSACTION
Deer Horn Capital Inc. has completed its previously announced debt settlement transaction pursuant to which it has issued 2,182,500 units at a deemed price of five cents per unit to settle $109,125 in debt. Each unit consists of one common share and one common share purchase warrant exercisable at a price of 10 cents per share for a period of 24 months. Certain insiders of the company were issued a total of 900,000 units under the debt settlements, which are considered related-party transactions as defined in Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions). The company relied on the exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(a), respectively, of MI 61-101 in respect of such insider participation.
About Deer Horn Capital Inc.
Deer Horn Capital is committed to exploring for, and providing, strategic and critical metals vital to a low-carbon economy and for the advancement of technology. The company's leadership has a record of project monetization with a board and advisory group that include industry leaders in finance, mineral property development, geology, mineralogy, solar power, engineering, research, and first nations engagement and economic development.
We seek Safe Harbor.
