Stelmine Canada Ltd.

Stelmine Canada Ltd.

November 03, 2014 09:30 ET

Up Date on Financial Restructuration of Stelmine Canada Ltd

MONTRÉAL, QUÉBEC--(Marketwired - Nov. 3, 2014) - Stelmine Canada ltée (« Stelmine ») (TSX VENTURE:STH) is announcing the results of its financial and corporate restructuration program.

The management of the company has initiate a program of restructuring which has for objectives to reduce the short terms financial obligations and allow the company to be healthy financially and more competitive in the realization of its transactions.

The financial program consists of 3 phases:

  1. Reductions of amounts dues to suppliers trough the issuance of credits of $23 359.24;
  2. Payments of the dues to investors and suppliers in shares of the company for the sums of $242 359.24;
  3. Conversion of short terms liabilities to long terms for the sums of $152 381.80;

The management of Stelmine is proud to announce that it has successfully completed its financial restructuring program and will now focus on the corporate restructuring of the company.

The direction of Stelmine has being very active in the last year studying a multitude of projects and partnerships in Canada and abroad. The company is now able to continue discussions with potentials partners as equal.

Stelmine Canada Ltd. is a junior exploration company listed on the TSX Ventures under the symbol STH.

The TSX Venture Exchange assumes no responsibility for the adequacy or accuracy of this press release.

Contact Information

  • Michel Lemay
    President of the company
    (450) 934-3180