Fidelity Minerals Settles $436,975 Debt with Lions Bay via Share Issue
Fidelity Minerals Corp. has settled a debt of $436,975 with Lions Bay Capital Inc., a major shareholder, by issuing 3,361,344 common shares at $0.13 each. The settlement is exempt from certain regulatory requirements and is subject to TSX Venture Exchange approval.
The debt settlement, a related party transaction, is exempt from minority approval and formal valuation requirements of MI 61-101. Fidelity Minerals Corp., led by CEO Ian Graham, has issued shares to Lions Bay, which has previously provided unsecured, non-interest-bearing advances to support the company.
Fidelity Minerals' most advanced project is Las Huaquillas, a gold, copper, and silver project in Northern Peru. The company has assembled a portfolio of high-quality mining assets targeting large-scale copper and gold. It is also looking to expand its project portfolio through accretive acquisitions. The company is backed by an experienced management team and committed investors.
The settlement shares will be subject to a statutory four-month hold period. Fidelity Minerals Corp. continues to advance its projects and explore expansion opportunities, supported by its shareholders and management team.
