VANCOUVER, BC, Nov 27, 2014 (Marketwired via COMTEX) — War Eagle Mining Company Inc. (WAR) (the "Company") announces that the TSX Venture Exchange ("TSX-V") has accepted for filing the Company's issue of 4,540,000 common shares at a deemed price of $0.05 per share to settle outstanding debts of $227,000. The settlement shares to be issued to two insider creditors of the Company in excess of 700,000 common shares each will require disinterested shareholder approval at the Company's upcoming annual general meeting.
The issue of the approved settlement shares will increase outstanding shares to 20,590,276 at this time, excluding shares requiring shareholder approval. All shares issued pursuant to the shares-for-debt settlement will be subject to a four-month hold period, in accordance with the policies of the TSX-V and applicable securities laws.
This news release was prepared by management of the Company, which takes full responsibility for its contents. 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 release.
For additional information please contact:
War Eagle Mining Company Inc.
Thomas R. Atkins
President and CEO
416-509-4326
[email protected]
SOURCE: War Eagle Mining Company Inc.
mailto:[email protected]Original Article: http://www.marketwatch.com/story/war-eagle-shares-for-debt-settlement-approved-2014-11-27-17173225?reflink=MW_news_stmp
