TORONTO, ONTARIO–(Marketwired – Jul 5, 2017) – Pele Mountain Resources Inc. (TSX VENTURE:GEM) (“Pele” or the “Company“) today provided a business update on the Company’s capital restructuring and its decision to proceed with the non-binding letter of intent (“LOI“) announced on June 1, 2017.
Pele has engaged with all of its significant creditors regarding the capital restructuring and a potential ‘equity for debt’ conversion (the “Shares for Debt Transactions“), and overall has received supportive responses. The final terms for any conversion will be subject to TSX Venture Exchange (“TSXV“) approval and further information will be provided about the Shares for Debt Transactions in a future news release.
As announced in June,…
Read the full article at: https://www.benzinga.com/pressreleases/17/07/m9740939/pele-mountain-provides-business-update