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Portofino Resources ( (TSE:POR) ) has shared an announcement.
Portofino Resources Inc. announced that it has amended its debt settlement agreement, reducing the amount of debt to be settled from $205,000 to $105,000 through the issuance of 10,500,000 common share units at $0.01 per unit. Each unit comprises one share and a half warrant, with full warrants convertible into shares at $0.05 each for two years. This transaction is pending approval from the TSX Venture Exchange. The move is part of the company’s strategy to manage its financial obligations and could impact its financial positioning and shareholder value.
More about Portofino Resources
Portofino Resources Inc. is a Vancouver, Canada-based company focused on exploring and developing mineral resource projects in the Americas. It holds a 100% interest in the Yergo Lithium Project in Catamarca and options in the Arizaro Lithium Project in Salta, Argentina, located in the Argentine Lithium Triangle. The company also owns several exploration projects in northwestern Ontario, Canada, including the South of Otter and Gold Creek projects.
YTD Price Performance: -33.33%
Average Trading Volume: 299,238
Technical Sentiment Consensus Rating: Buy
Current Market Cap: C$1.4M
Find detailed analytics on POR stock on TipRanks’ Stock Analysis page.
