Crestview Exploration, Inc. (TSE:CRS) has released an update.
Crestview Exploration Inc. has opted to settle its debts by issuing securities to directors, officers, and vendors instead of cash payments, with a total of 1,845,000 units to be distributed upon Canadian Securities Exchange approval. These units include both common shares and warrants, with the latter being exercisable at $0.10 for two years. The transactions are deemed related party transactions but are exempt from certain regulatory requirements and will not change the company’s insider or control person structure.
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