Image Source: AsiaOne
Euro Manganese to Issue Shares for DebtGlobeNewswireJuly 10, 2020VANCOUVER, British Columbia, July 10, 2020 (GLOBE NEWSWIRE) -- Euro Manganese Inc. (TSX-V / ASX: EMN) (the “Company” or “EMN”) announces that it has agreed to issue 3,071,551 common shares (“Shares”) and 150,157 CHESS Depositary Interests (“CDIs”, with each CDI representing one Share) to extinguish C$257,737 of indebtedness with certain creditors of the Company (the “Debt Settlement”). Pursuant to the Debt Settlement, subject to shareholder approval (as detailed below), the Company intends to issue the following Shares and CDIs at a deemed price of C$0.08 per Share or CDI, as follows: 1. Current Non-Executive Directors The Company will issue 841,120 Shares and 150,157 CDIs to the following non-executive directors in settlement of unpaid directors’ fees:
Source: AsiaOne