TORONTO, ON / ACCESS Newswire / July 8, 2025 / PPX Mining Corp. ("PPX" or the "Company") is pleased to announce that it has entered into a debt settlement agreement with an arm's length party of the Company (the "Creditor") to settle outstanding debt owed by the Company to the Creditor in the amount of US$1,005,538 (C$1,375,000) with respect to a commission for the Creditor locating a mining operator for the Company's mineral projects, by the Company issuing 12,500,000 common shares of the Company to Creditor at a deemed price of C$0.11 per common share (the "Debt Settlement"). The Company will pay additional cash payments totaling US$50,000 to the Creditor in settlement of the remainder of the debt owed to the Creditor.
The Debt Settlement is subject to the approval of the TSX Venture Exchange and other customary conditions precedent for a transaction of this nature. The shares to be issued to the Creditor will be subject to a hold period expiring on the date that is four months and one day after the date of issuance, in accordance with applicable securities laws.
About PPX Mining Corp:
PPX Mining Corp. (TSXV:PPX.V)(BVL:PPX) is a Canadian-based mining company with assets in northern Peru. Igor, the Company's 100%-owned flagship gold and silver project, is located in the prolific Northern Peru gold belt in eastern La Libertad Department.
On behalf of the board of directors of the Company:
Brian Imrie
Executive Chairman
82 Richmond Street East
Toronto, Ontario M5C 1P1
Canada
416-361-0737
Neither 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.
Cautionary Statement:
This press release contains forward-looking information and forward-looking statements (collectively, "forward-looking statements") as such terms are defined by applicable securities laws, including, but not limited to statements regarding the completion of the Debt Settlement and the issuing of shares of the Company and the settlement of the outstanding debt owed the Creditor. Forward-looking statements are statements that relate to future events. In this context, forward-looking statements often address expected future business and financial performance and often contain words such as "anticipate," "believe," "plan," "estimate," "expect," and "intend,", statements that an action or event "may," "might," "could," "should," or "will" be taken or occur, or other similar expressions. Forward-looking statements are subject to a number of known and unknown risks and uncertainties, many of which involve factors or circumstances that are beyond the Company's control, and the Company's actual results could differ materially from those stated or implied in forward-looking statements due to many various factors. Such uncertainties and risks include, among others, delays in obtaining or inability to obtain required regulatory approvals and complete the other conditions precedent. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, the Company cannot guarantee that the events and circumstances reflected in the forward-looking statements will be achieved or occur. The timing of events and circumstances and actual results could differ materially from those projected in the forward-looking statements. Accordingly, one should not place undue reliance on forward-looking statements. All forward-looking statements contained in this press release are made as of today's date, and the Company undertakes no obligation to update or publicly revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless required by law.
SOURCE: PPX Mining Corp.
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/metals-and-mining/ppx-mining-announces-debt-settlement-1046682
