Source: Champion Bear Resources Ltd.
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  • Champion Bear (CBA) has settled $156,819.30 of outstanding debt by issuing common shares to nine creditors
  • A total of 700,000 common shares have been issued to the company’s Chief Financial Officer and 36,200 common shares have been issued to a director
  • Champion Bear is a mineral exploration company focused on the historically prospective regions of Ontario
  • Shares of Champion Bear Resources Ltd. (CBA) are unchanged on the day, trading at C$0.215 at 12:15 pm ET

Champion Bear (CBA) has settled $156,819.30 of outstanding debt by issuing common shares to nine creditors.

The company chose to issue common shares to preserve cash and improve the company’s balance sheet.

The debt settlement has been approved by the TSX Venture Exchange. The shares issued are subject to a four-month hold period.

A total of 700,000 common shares have been issued to the company’s Chief Financial Officer extinguishing $70,000 of the debt owing to him. A total of 36,200  common shares have been issued to a director extinguishing $3,620 of the debt owing to him.

Champion Bear is a mineral exploration company focused on the historically prospective regions of Ontario. The company’s primary targets are platinum group metals, precious metals, and polymetallic base metals deposits.

Shares of Champion Bear Resources Ltd. (CBA) are unchanged on the day, trading at C$0.215 at 12:15 pm ET.

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