Supreme Critical Metals Announces Debt Settlement Agreements
VANCOUVER, BC, March 18, 2025 – Supreme Critical Metals Inc. (CSE: CRIT, FWB: VR61, OTC PINK: VRCFF) (“Supreme” or the “Company”) is pleased to announce that it has reached debt settlement agreements with certain creditors. According to the terms of the agreements, the Company will issue a total of 7,473,920 common shares at a price of $.10 per share, raising gross proceeds of $747,392.
Details of the Debt Settlement
The debt settlement agreements will see the issuance of 5,925,920 common shares to non-related parties, and 1,548,000 shares to related parties, specifically 4 directors and officers of the Company. The total number of shares to be issued represents approximately 13.2% of the Company’s currently issued and outstanding common shares. The common shares issued under the debt settlement agreements will be subject to a four-month hold period and subject to the approval of the Canadian Securities Exchange.
Impact on Supreme Critical Metals
The debt settlement agreements represent a significant financing for Supreme Critical Metals, allowing the Company to settle outstanding debts and continue its operations. The issuance of common shares to both related and non-related parties is a common practice in the capital markets and is subject to regulatory approval. The dilutive impact of the issuance on existing shareholders will be approximately 13.2%. The proceeds from the financing will be used for general working capital purposes.
Impact on Individuals
As a shareholder, the issuance of common shares to settle debts may result in a dilutive effect on your current holdings. The price of Supreme Critical Metals’ shares could potentially be affected by this news, depending on market sentiment. It is essential to monitor the Company’s financial statements and regulatory filings for further information.
Impact on the World
The debt settlement agreements by Supreme Critical Metals are not expected to have a significant impact on the world at large, as the Company is a small-cap mining exploration company. However, the financing may help the Company advance its projects and contribute to the broader mining industry.
Conclusion
Supreme Critical Metals Inc. has announced debt settlement agreements that will see the issuance of 7,473,920 common shares to settle outstanding debts. The financing will raise gross proceeds of $747,392 and is subject to regulatory approval. The issuance of common shares represents approximately 13.2% of the Company’s currently issued and outstanding common shares. Shareholders may be impacted by the dilutive effect of the issuance, while the financing will help the Company continue its operations. The impact on the world is minimal, but the Company’s advancements could contribute to the broader mining industry.
- Supreme Critical Metals announces debt settlement agreements
- Company to issue 7,473,920 common shares at $.10 per share
- Proceeds to be used for general working capital purposes
- Dilutive impact on shareholders
- Minimal impact on the world
