Saville Resources Inc. Announces Debt Settlement Approval
Vancouver, B.C. (FSCwire) - Saville Resources Inc. (TSXv: SRE, FSE: S0J) (the "Company") wishes to report that the TSX Venture Exchange has accepted for filing a debt settlement arrangement pursuant to which the Company has issued 3,650,000 shares at a deemed price of $0.06 per share to settle outstanding debt of $219,000. The shares issued pursuant to the settlement arrangement are subject to restriction on resale to April 12, 2018.
In connection with the debt settlement transaction, Zimtu Capital Corp. (“Zimtu”), of Suite 1450 – 789 West Pender Street, Vancouver, B.C., V6C 1H2 has acquired 3,650,000 common shares of the Company. Immediately prior to the completion of the transaction, Zimtu owned 296,000 common shares of the Company. Following completion of the debt settlement transaction, Zimtu currently has ownership of and control over 3,946,000 common shares of the Company representing approximately 17.1% of the issued and outstanding common shares of the Company.
ON BEHALF OF THE BOARD
SAVILLE RESOURCES LTD.
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 release.
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Source: Saville Resources Inc. (TSX Venture:SRE)
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