Bolt Metals (TSE:BOLT) has released an update.
Bolt Metals Corp. has announced plans to issue over 1.9 million common shares to settle an accumulated debt of approximately $629,202.82 owed to its top executives for management and consulting fees over four years. The settlement is pending necessary approvals, including possibly from the Canadian Securities Exchange and the company’s board, and will be subject to a four-month holding period. This move aims to improve Bolt Metals’ financial position and is considered a ‘related party transaction’, subject to specific regulatory exemptions due to the company’s financial state.
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