Blast Resources Announces Debt Settlement
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Vancouver, British Columbia, November 29, 2024 ‐ TheNewswire – Blast Resources Inc. (“Blast” or the “Company”) (CSE: BLST) announces that it intends to settle outstanding indebtedness in the amount of $75,000 owed to a certain creditor in exchange for the issuance of 1,333,333 common shares at a deemed price of $0.05625 per share.
The Company intends to complete the debt settlement to preserve the Company’s cash for working capital and improve its financial position by reducing its existing liabilities. The debt is owed by the Company to a consultant of the Company. The debt settlement is expected to close shortly, subject to customary closing conditions, including, but not limited to, finalizing all contractual documentation and receipt of all applicable regulatory approvals, as applicable, including compliance with the policies of the Canadian Securities Exchange.
All securities issued under the debt settlement will be subject to a four-month hold period in accordance with Canadian securities law.
About Blast Resources Inc.
Blast is a mineral exploration company trading on the Canadian Securities Exchange. The Company has an option over a mineral exploration project in Saskatchewan. The project is located near Highway 955 south of Wales Lake and sits just outside the southwest margin of the Athabasca Basin.. T
Gary Claytens
President and CEO
For further information, please contact:
E-mail: [email protected]
Website: www.blastresources.com
Forward-Looking Statement (Safe Harbor Statement): This press release contains forward looking statements within the meaning of applicable securities laws. The use of any of the words “anticipate”, “plan”, “continue”, “expect”, “estimate”, “objective”, “intends” “may”, “will”, “project”, “should”, “predict”, “potential” and similar expressions are intended to identify forward looking statements. In particular, this press release contains forward looking statements concerning the completion of the debt settlement.
Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company cannot give any assurance that they will prove correct. Since forward looking statements address future events and conditions, they involve inherent assumptions, risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of assumptions, factors and risks. These assumptions and risks include, but are not limited to, assumptions and risks associated with mineral exploration generally and results from anticipated and proposed exploration programs, conditions in the equity financing markets, and assumptions and risks regarding receipt of regulatory and shareholder approvals
Management has provided the above summary of risks and assumptions related to forward looking statements in this press release in order to provide readers with a more comprehensive perspective on the Company’s future operations. The Company’s actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits the Company will derive from them. These forward-looking statements are made as of the date of this press release, and, other than as required by applicable securities laws, the Company disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise.
Neither the CSE Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
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