VANCOUVER, British Columbia, Sept. 8, 2022 (GLOBE NEWSWIRE) — Arctic Fox Minerals Corp. FOXY (the “company” or “Arctic“) announces that its Board of Directors has authorized the payment of an aggregate principal amount of $236,500 in debt for services rendered through the issuance of common stock of the Company (the “Debt Settlement”). Pursuant to the Debt Settlement, the Company has issued an aggregate of $4,730 ,000 common shares of the Company (the “Shares”) at a deemed price of $0.05 per share to certain creditors of the Company.
All securities issued are subject to a statutory hold period expiring four months and one day from the date of issue.
about the company
Arctic Fox is a resource exploration company focused on exploring for precious metals in the Northwest Territories. Arctic Fox is currently expanding the Uptown Gold Project property four (4) km outside of Yellowknife adjacent to the Giant Mine.
On behalf of the Board of Directors
Dixon Lawson
Managing Director
dixon@arcticfoxminerals.com
604-754-8255
FORWARD LOOKING INFORMATION
Certain statements in this press release are forward-looking statements, including with respect to future plans and other matters. Forward-looking statements consist of statements that are not purely historical, including statements about beliefs, plans, expectations or intentions regarding the future. Such information is generally identifiable by the use of forward-looking language such as “may,” “expect,” “estimate,” “anticipate,” “intend,” “believe,” and “continue,” or the negative thereof, or similar variations. The reader is cautioned that assumptions used in preparing the forward-looking information may prove to be incorrect. Events or circumstances may arise due to numerous known and unknown risks, uncertainties and other factors, many of which are beyond the Company’s control, including but not…
