Surefire Resources NL (AU:SRN) has released an update.
Surefire Resources NL is in the process of converting debt owed to Mutual Holdings Pty Ltd into equity, pending shareholder approval. The deal would see Mutual Holdings receive 350 million fully paid shares and 350 million partly paid shares in Surefire, reducing the company’s debt by $5.6 million. This strategic move is aimed at aligning the interests of Mutual Holdings, led by Surefire’s Executive Chairman, with those of other shareholders.
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