Vancouver, British Columbia--(Newsfile Corp. - August 21, 2024) - York Harbour Metals Inc. (TSXV: YORK) (OTC Pink: YORKF) (FSE: 5DE) (the "Company" or "York"), has entered into debt settlement agreements with arm's length third parties and three directors of the Company (the "Creditors") pursuant to which the Company has agreed to issue an aggregate of 4,723,088 common shares (each, a "Share") at a deemed price of $0.07 per Share, to settle indebtedness of CAD$330,616.38 of which CAD$87,812.50 or 1,254,463 shares is owed to three directors of the Company (the "Transaction").
The Company determined to satisfy this outstanding indebtedness with Shares to preserve its cash for operations. The Transaction is subject to TSX Venture Exchange approval. All Shares issued pursuant to the Transaction will be subject to a four-month and one-day hold period.
About York Harbour Metals
York Harbour Metals Inc. (TSXV: YORK) (OTC Pink: YORKF) (FSE: 5DE) is an exploration and development company with two high-grade projects in Newfoundland, Canada. The York Harbour Copper-Zinc-Silver Project is located approximately 27 km from Corner Brook. Recently, the Company entered into an option agreement with Firetail Resources (an Australian-listed company) to earn a 75% interest by completing specific work and payment milestones. Further details on this agreement can be found on the Company's website.
The Bottom Brook Rare Earth Elements Project, covering 15,150 hectares, is located next to the Trans-Canada Highway and just 27 km from the deep-water port at Turf Point, Newfoundland.
For further details on York Harbour Metals, please contact us via email at info@yorkharbourmetals.com or call +1-778-302-2257. Visit the Company's website at www.yorkharbourmetals.com for past news releases, media interviews, and opinion-editorial pieces by management.
On Behalf of the Board of Directors,
"Blair Naughty"
CEO and President
Email: info@yorkharbourmetals.com
Phone: 778-302-2257
Website: https://yorkharbourmetals.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Cautionary Statement Regarding Forward-Looking Information
This news release may contain "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian securities legislation. All information contained herein that is not historical in nature may constitute forward-looking information. Forward-looking statements herein include but are not limited to statements relating to the prospects for the development of the Company's mineral properties, and are necessarily based upon a number of assumptions that, while considered reasonable by management, are inherently subject to business, market and economic risks, uncertainties and contingencies that may cause actual results, performance or achievements to be materially different from those expressed or implied by forward-looking statements. Except as required by law, the Company disclaims any obligation to update or revise any forward-looking statements. Readers are cautioned not to put undue reliance on these forward-looking statements.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/220758
SOURCE: York Harbour Metals
