IC Capitalight Completes Shares for Debt Settlement
Tuesday, January 28, 2020 7:25 PM
VANCOUVER, BC / ACCESSWIRE / January 28, 2020 / IC Capitalight Corp. (CSE:IC) ("Capitalight" or the "Company") announces the completion of a shares for debt settlement whereby the Company has settled a total indebtedness of $44,636 by issuing 892,707 common shares at a price of $0.05 per common share. This was completed pursuant to certain employment agreements that contain provisions for the issuance of shares as part of the annual compensation of the employees.
All common shares issued in connection with the shares for debt settlement will be subject to a minimum four-month hold period as required by Canadian securities laws. The Company has obtained conditional approval from the Canadian Securities Exchange (the "CSE") for the listing of all common shares and is subject to receipt of final approval of the CSE.
About IC Capitalight Corp.
IC Capitalight Corp. is a merchant bank that pursues value-based investment opportunities in accordance with its internal investment policies. The Company's focus is to provide shareholders with long-term capital growth by investing in a portfolio of undervalued companies, assets, or investment vehicles within the mineral resource and other sectors. The Company currently holds a portfolio of debentures, owns mineral exploration properties in Quebec, and owns 100% of Murenbeeld & Co. Inc., which operates a subscription research business.
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Disclaimer for Forward‐Looking Information
This news release includes certain "forward‐looking statements" under applicable Canadian securities legislation that are not historical facts. Forward‐looking statements involve risks, uncertainties, and other factors that could cause actual results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward‐looking statements. Forward‐looking statements in this news release include, but are not limited to, statements regarding: the debentures; (ii) the mineral exploration properties; and (iii) the operations of Murenbeeld & Co Inc. Forward‐looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors that may cause actual results and future events to differ materially from those expressed or implied by such forward‐looking statements. Such factors include, but are not limited to: general business, economic and social uncertainties; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; and other risks outside of the Company's control. Additional risk factors are included in the Company's Management's Discussion and Analysis, available under the Company's profile on SEDAR at www.sedar.com. Although the Company believes that the assumptions and factors used in preparing the forward‐looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except as required by applicable laws, the Company disclaims any intention or obligation to update or revise any forward‐looking statement, whether as a result of new information, future events, or otherwise.
SOURCE: IC Capitalight Corp.