Paget Announces Completion of Shares for Debt Transaction
VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 2, 2015) -Paget Minerals Corp. ("Paget" or the "Company") (TSX VENTURE:PGS) wishes to announce that it has completed the shares for debt transaction announced on January 19, 2015 after receiving the approval of the TSX Venture Exchange to settle indebtedness with a creditor of the Company.
Pursuant to the shares for debt transaction, the Company has issued 882,968 common shares (the "Shares") at a deemed price of $0.05 per Share in order to settle debt in the amount of $44,148 from certain obligations of the Company under an option agreement dated August 17, 2012, as amended on April 25, 2013. The Shares issued by the Company pursuant to the shares for debt transaction are subject to a four month hold period expiring June 26, 2015.
About Paget Minerals Corp.
Paget Minerals Corporation is a publicly traded resource company focused on mineral exploration and the advancement of its Ball Creek Project in British Columbia. Ball Creek comprises a 52,442-hectare, contiguous mineral tenure package in the Golden Triangle - Iskut Mineral District located just 8km west of Highway 37 and only 36km northwest of the new Northwest Transmission Line Substation at Bob Quinn. Ball Creek neighbors three major mine development projects in the region -- Galore Creek, Schaft Creek and Red Chris. David Volkert, President and CEO, serves as the Qualified Person under the definitions of NI 43-101.