Vancouver, BC (FSCwire) - Voltaic Minerals Corp. (TSXV: VLT, FSE: 2P61) (the “Company”) is pleased to announce that it has received TSX Venture Exchange acceptance in connection with the settlement of debt agreement with several creditors including one insider. The Company settled $761,827.85 of debt owed to creditors by the issuance of 15,236,555 common shares of the Company at a deemed price of $0.05 per share. The debt has now been fully extinguished. The Company determined it was best to satisfy its outstanding debt by the issuance of shares to preserve its cash for operations.
Zimtu Capital Corp. (Zimtu) received 13,504,682 common shares for the full satisfaction of $675,234.12 of debt. Zimtu now holds a total of 15,082,782 or 39% of the current issued and outstanding capital of the Company.
The Company is relying on exemptions from the prospectus requirements found in section 2.14 of National Instrument 45-106 and applicable securities laws to issue the shares. The common shares issued to the creditors will be subject to a minimum four month hold period.
The Board has agreed to issue 1,200,000 incentive stock options to Directors and Officers of the Company, the options are exercisable at $0.30 per share for a period of 5 years from issuance.
ON BEHALF OF THE BOARD
VOLTAIC MINERALS CORP.
“Darryl Jones”
Darryl Jones
Director
Tel: 604.681.1568
info@voltaicminerals.com
Neither the 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.
To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/Voltaic06092016.pdf
Source:
Voltaic Minerals Corp. (TSX Venture:VLT, FWB:2P61)
Maximum News Dissemination by FSCwire. http://www.fscwire.com
Copyright © 2016 Filing Services Canada Inc.
