September 05, 2024 6:30 PM EDT | Source: Carlyle Commodities Corp.
Vancouver, British Columbia–(Newsfile Corp. – September 5, 2024) – Carlyle Commodities Corp. (CSE: CCC) (FSE: BJ4) (OTC Pink: CCCFF) (“Carlyle” or the “Company“) has reached an agreement to issue 3,806,920 common shares at a price of $0.05 per share to certain directors of the company and consultants as part of a debt settlement totaling $190,346. This agreement is intended to settle outstanding debts owed by the company for services rendered.
The debt settlement with the company’s directors constitutes a “related party transaction” as per Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101“). The issuance of shares to the directors is exempt from the valuation requirement of MI 61-101 and from the minority shareholder approval requirements as outlined in Sections 5.5(b) and 5.7(1)(a) respectively.
All securities issued as part of the debt settlement will be subject to a statutory hold period of four months and one day, as per National Instrument 45‐102 – Resale of Securities.
About Carlyle
Carlyle is a mineral exploration company focused on acquiring, exploring, and developing mineral resource properties. The company owns 100% of the Newton Project in the Clinton Mining Division of British Columbia and is listed on the Canadian Securities Exchange, OTC Market, and Frankfurt Exchange under the tickers “CCC”, “CCCFF”, and “BJ4” respectively.
ON BEHALF OF THE BOARD OF DIRECTORS OF
CARLYLE COMMODITIES CORP.
“Morgan Good”
Morgan Good
Chief Executive Officer
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release).
Cautionary Note Regarding Forward-Looking Statements
This release may contain forward-looking statements and information that involve risks and uncertainties. Actual results may differ from those anticipated, and readers are advised not to place undue reliance on such information. The Company does not undertake to update any forward-looking statements or information unless required by applicable securities laws. We seek safe harbor.
To view the original press release, please visit https://www.newsfilecorp.com/release/222330
