Vancouver, British Columbia--(Newsfile Corp. - July 19, 2024) - Oracle Commodity Holding Corp. (TSXV: ORCL) (OTCQB: ORLCF) ("Oracle" or the "Company") announces that it has entered into an agreement to settle $10,000 of debt owed to a director of the Company for management fees in consideration for the issuance of 105,263 common shares of the Company at a deemed price of $0.095 per share (the "Debt Settlement").
The insider debt settlement of $10,000 and 105,263 common shares are exempt from the valuation and minority shareholder approval requirements of Multilateral Instrument 61-101 ("MI 61-101") by virtue of the exemptions contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in that the fair market value of the consideration for the securities of the Company to be issued to insiders does not exceed 25% of its market capitalization. All securities issued pursuant to the Debt Settlement will be subject to a statutory four month hold period.
About Oracle Commodity Holding Corp.
Oracle Commodity Holding Corp. is a mining royalty company spun out from Silver Elephant Mining Corp. (TSX: ELEF) in 2022.
Further information on Oracle Commodity can be found at www.oracleholding.com.
ORACLE COMMODITY HOLDING CORP.
ON BEHALF OF THE BOARD
"Anthony Garson"
CEO
For more information about Oracle Commodity, please contact:
Email: info@oracleholding.com
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SOURCE: Oracle Commodity Holding Corp.
