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Provider: Reuters Investment Profile
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Provider: GlobalData
$250.00
Provider: GlobalData
$250.00
Provider: GlobalData
$250.00

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Frontline Gold Corp Announces Shares For Debt Transaction


Wednesday, 27 Mar 2013 04:54pm EDT 

Frontline Gold Corp announced that it has entered into a debt settlement agreement with Walter Henry, President and CEO, a creditor of the Company pursuant to which the Company agreed to issue an aggregate of 20,000,000 common shares at a deemed price of $0.05 per Share. The amount of indebtedness settled by the Agreement is $1,000,000, which represents outstanding amounts for cash advances by Mr. Henry to the Company. The Company chose to settle this outstanding indebtedness with Shares as part of its plans to move the Company forward and in order to preserve its potential funds for operations. The issuance of shares is subject to the approval of the TSX Venture Exchange (the Exchange) and subject to a 4-month hold period. The Company will issue the Shares once the issuance has been approved by the Exchange. 

Company Quote

0.0050
-0.0050 -50.00%
18 Sep 2014