News Release – Kelowna, British Columbia – July 27, 2020: Shine Minerals Corp. (the “Company“) (TSX-V: SMR) announces that it entered into debt settlement agreements with arm’s length and non-arm’s length creditors (directors) of the Company, to settle an aggregate $100,000 of debt in consideration for the issuance of an aggregate 666,667 common shares (the “Shares”) at a deemed price of $0.15 per Share (the “Debt Settlement”). The debts are for unpaid director and consulting fees.
The Debt Settlement is subject to TSX Venture Exchange approval and all securities are subject to a four month hold period.
About Shine Minerals Corp.
Shine Minerals Corp is a Canada-based natural resource focused company. The Company is engaged in the acquisition, exploration, evaluation and development of mineral resource assets.
ON BEHALF OF THE BOARD
Mr. Devinder Randhawa
Chief Executive Officer
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 news release.
Cautionary Statement Regarding Forward Looking Information
This news release contains “forward‐looking information or statements” within the meaning of applicable securities laws, which may include, without limitation, statements that address the Company’s plans for its properties/projects, the closing of the debt settlement, other statements relating to the technical, financial and business prospects of the Company, and other matters. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of metals, the ability to achieve its goals, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms. Such forward-looking information reflects the Company’s views with respect to future events and is subject to risks, uncertainties and assumptions, including those filed under the Company’s profile on SEDAR at www.sedar.com. Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, the impact of Covid-19 or other viruses and diseases on the Company’s ability to operate, adverse weather conditions, equipment failures, failure to obtain the necessary equipment or machinery, failure to maintain all necessary government permits, approvals and authorizations, failure to maintain community acceptance (including First Nations), increase in costs, litigation, and failure of counterparties to perform their contractual obligations. The Company does not undertake to update forward‐looking statements or forward‐looking information, except as required by law.