Pan American Energy Secures Debt Settlement Through Share Issuance
Pan American Energy Completes Debt Settlement Transactions
CALGARY, Alberta -- Pan American Energy Corp. (CSE: PNRG | FRA: SS60) has successfully concluded debt settlement transactions involving the issuance of 205,841 common shares. Each share is valued at $0.20, collectively settling an outstanding debt of $441,168.50 owed to various creditors.
Details of the Debt Settlement
The shares issued in the debt settlement transactions will be subject to a statutory hold period, expiring on a designated date four months from issuance as mandated by Canadian securities regulations. This strategic move reflects Pan American's commitment to managing its financial obligations while continuing its growth trajectory in the resources sector.
Exploration and Development Initiatives
Pan American Energy is at the forefront of exploring and developing mineral properties, focusing particularly on battery metals vital for various technologies. Recently, the Company secured a 75% interest in the Big Mack Lithium Project located near Kenora, Ontario, with an option to increase its stake to 90%. This project underlines the Company’s dedication to tapping into the growing demand for lithium, a crucial component in battery manufacturing.
Staying Connected with Investors
To keep stakeholders updated on future developments and investor-related news, Pan American Energy encourages interested parties to register for updates. This is part of its strategy to maintain transparency and open lines of communication with the investment community.
Management Insights and Future Outlook
Adrian Lamoureaux, the Chief Executive Officer, emphasizes the importance of these recent transactions in positioning the Company for future success. As the demand for battery metals continues to rise, Pan American is poised to capitalize on its strategic investments and development projects.
Commitment to Environmental and Regulatory Standards
As part of its operational strategy, Pan American Energy remains committed to adhering to all necessary environmental and regulatory standards, ensuring that its exploration and development activities are conducted responsibly and sustainably. This alignment not only supports compliance but also fosters a positive relationship with local communities and regulators.
Frequently Asked Questions
What are the recent debt settlement transactions by Pan American Energy?
Pan American Energy issued 205,841 common shares at a value of $0.20 per share to settle debts amounting to $441,168.50.
How long will the issued shares be held under a statutory hold?
The shares will be under a statutory hold for four months from the issuance date, as per Canadian securities legislation.
What project has Pan American Energy recently invested in?
The Company has acquired a 75% interest in the Big Mack Lithium Project, with an option to increase its stake to 90%.
Who leads Pan American Energy and what is his vision?
Adrian Lamoureaux serves as the CEO and emphasizes expanding the Company’s presence in the battery metals market while managing sustainable operations.
How can investors stay informed about Pan American Energy's developments?
Interested investors can register for updates on the Company’s official website to receive the latest news and developments.
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