TORONTO, Oct. 24, 2018 (GLOBE NEWSWIRE) -- Anconia Resources Corp. (TSXV: ARA) (the “Company”) is pleased to announce that it has completed the shares for debt transaction (the “Shares for Debt Transaction”) previously announced on August 17, 2018. The total amount of debt extinguished pursuant to the Shares for Debt Transaction was $586,636.02 for 11,732,720 common shares (the “Common Shares”) of the Company at $0.05 per share.
The Common Shares are subject to a four month plus one day hold period (“Hold Period”). The Hold Period will expire on February 25, 2019.
The directors and/or officers of Anconia, being Jason Brewster, Denis Clement, Harvey McKenzie, Jim Franklin, John Sadowski, and Mike Florence, have converted an aggregate amount of $243,750 into Common Shares. The directors and/or officers of Anconia now hold, directly and indirectly, 21,854,916 Common Shares or 18.59% of the issued and outstanding Common Shares.
The Shares for Debt Transaction has received final approval of TSX Venture Exchange.
Anconia is a base and precious metals exploration and development company, which is focused on providing shareholder value through the advancement of its properties in its portfolio. Anconia is undertaking comprehensive exploration programs to determine the potential of its current projects.
For further information regarding Anconia please contact:
President and CEO
Tel: (416) 815-9777
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.