Troy Minerals to Settle $348,000 Debt with Share Issuance

Troy Minerals Inc., a company listed on several stock exchanges, has announced plans to address its outstanding debt. The Vancouver-based firm intends to settle an indebtedness of $348,000 by issuing 2,784,000 common shares at $0.125 each.

This strategic move aims to conserve cash for working capital needs and enhance Troy's financial standing through liability reduction. The closure of the debt settlement is anticipated soon, contingent on standard closing prerequisites, including completing all necessary documentation and obtaining regulatory approvals as required under the Canadian Securities Exchange policies.

Issued securities will be subject to a four-month holding period as per Canadian law.