Tantalex Lithium Resources (CSE:TTX, OTC:TTLXF) will settle debts with creditors by issuing shares and warrants.
It will settle a debt of C$5.3 million with International Cobalt by issuing 106,485,506 shares at C$0.05 per share, along with 50 million warrants exercisable at C$0.10 per share. This resolves multiple convertible debentures from 2018 and 2020, preventing the creditor from owning over 20% of voting securities.
Additionally, debts for digital marketing services (C$89,123.10) and consulting services (C$113,000) will be settled by issuing common shares, with no new insiders created.