Fidelity Minerals Announces Closing of Shares for Debt Transaction and Loans from Lions Bay Capital Inc.
Summary
The Settlement Shares are subject to a four-month hold period expiring on October 20, 2024.Of the shares for debt settlement, $180,245 was owed to insiders of the Company related to outstanding fees and $425,000 was owed to Lions Bay Capital Inc. (Lions Bay) related to outstanding loans. Lions Bay is a major shareholder of Fidelity and has provided continued support in the form of unsecured non-interest-bearing advances (Loans) to Company since December of 2022 which totalled $622,477 prior to the shares for debt settlement. The company is backed by an experienced management team with diverse technical, market, and commercial expertise and is supported by committed, and sophisticated investors focused on building long-term value.On behalf of the Board of Fidelity Minerals.For more information, please visit the corporate website at http://www.fidelityminerals.com or contact:NEITHER THE 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 NEWS RELEASE.Disclaimer & Forward-Looking Statements: This news release contains forward-looking statements. This news release may also contain inferences to future oriented financial information (FOFI) within the meaning of applicable securities laws. Further, forward-looking statements in this release include that Fidelity Minerals Corp. is also looking to opportunistically expand its project portfolio with accretive acquisitions.