CMC Metals (TSE:CMB) has released an update.
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CMC Metals Ltd. has strategically improved its financial stance by converting $163,457.02 of its debt into equity, issuing over 3.6 million common shares to both related and independent creditors. The initiative aims to conserve cash while strengthening the company’s balance sheet, pending approval from the TSX Venture Exchange. This debt settlement involves a four-month holding period for the new shares and is considered a related party transaction, adhering to regulatory exemptions.
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