 
|
Signature Sponsor
July 16, 2026 - Clinch Resources Ltd. (TSX: CLCH), a metallurgical coal producer with mining assets in West Virginia, has announced that it has completed a debt settlement transaction pursuant to which the Company issued an aggregate of 1,565,954 common shares of the Company at a price of C$1.25 per Common Share in settlement of US$1,409,359 of interest owed by Active Resources, Inc., a subsidiary of the Company, on certain indebtedness that was previously repaid. The Debt Settlement was completed with certain arm's length third parties pursuant to the terms of debt settlement agreements entered into among the Company, Active Resources and the Creditors. The Common Shares issued pursuant to the Debt Settlement are subject to a statutory hold period of four months and one day from the date of issuance in accordance with applicable Canadian securities laws, as well as other restrictions applicable to Creditors located in or subject to the laws of the United States. The listing of the Common Shares issued pursuant to the Debt Settlement remains subject to the final approval of the Toronto Stock Exchange (the "TSX").
About Clinch Resources Ltd.
Clinch Resources Ltd. is a Tennessee-based metallurgical mining company with its corporate office located in Knoxville, Tennessee and operations in West Virginia. The Company will supply high-quality coking coal to steel-based manufacturing facilities both domestically and seaborn for critical global infrastructure. Clinch is currently opening its first two mines.
|
|