The Corporation announces that it has settled an outstanding debt of USD$1,084,915 with AfriMet Resources AG. The debt was incurred through a loan agreement with an interest rate of 10% per annum. The Corporation repaid the accrued interest by issuing 29,292,711 Common Shares at a price of $0.
05 per share. The Board of Directors decided to settle the debt with shares to preserve cash for working capital purposes.
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