Altan Nevada Enters Into Debt Settlement Agreements

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VANCOUVER, September 14, 2018. Altan Nevada Minerals Ltd. (TSX.V ANE) (“Altan Nevada” or the
Company“) is pleased to announce that it has entered into agreements for the settlement of a significant
portion of the Company’s outstanding debts and liabilities.

The Company has agreed to settle CAD$1,032,167 in loans and accounts payable (the “Settled Debts”)
through the issuance of securities of the Company (the “Debt Settlement”). Following completion of the
Debt Settlement, the Company will have remaining outstanding accounts in the amount of approximately
$100,000 owed to creditors all of whom have agreed not to require repayment of these debts prior to
December 2019.

Terms

Pursuant to the Debt Settlement, 19,059,130 common shares of the Company (each a “Settlement
Share“) will be issued to creditors of the Company in full and final settlement of the Settled Debt. The
Settlement Shares will be issued at a price of C$0.05 per share after giving effect to the 2:1 share
consolidation to be submitted to the Company’s shareholders for their approval at its upcoming 5 October
2018 shareholders meeting. Additionally, 16,919,074 of the Settlement Share will be issued with a share
purchase warrant (a “Settlement Warrant”) entitling the holder to acquire an additional common share
of the Company at a post-consolidation price of $0.10 per common share for a period of two years from
closing. In accordance with TSX Venture Exchange requirements, Settlement Warrants are not being
issued to creditors whose Settled Debts relate to the provision of professional services to the Company,

The Debt Settlement is subject to the following conditions precedent:

1. approval by the Company’s shareholders of all resolutions to be submitted by management for
shareholder approval at the Company’s special meeting scheduled for October 5, 2018, including a
resolution approving a 2:1 consolidation of the Company’s common shares; and
2. approval of the TSX Venture Exchange.

Settlement Shares and Settlement Warrants will be issued to related parties of the Company in the
following amounts:

• Evan Jones (President): 2,171,904 Settlement Shares and 206,848 Settlement Warrants for
$108,595 in Settled Debt.
• John Jones (Chairman): 10,164,312 Settlement Shares and 10,164,312 Settlement Warrants for
$508,216 in Settled Debt.
• Bridgemark Advisory Services, Anthony Jackson (Chief Financial Officer): 1,750,000 Settlement
Shares for $87,500 in Settled Debt.

To the extent it involves the foregoing persons, the Debt Settlement is a “related party transaction” within
the meaning of Policy 5.9 of the TSX Venture Exchange. An exemption from the valuation and minority
approval requirements of Policy 5.9 is available, as the fair market value of such Debt Settlement is less
than 25% of the market capitalization of the Company.

Commenting on the transaction, Altan Nevada Chairman, Mr John Jones, said today:

“I would personally like to thank all of these key stakeholders for their support over the last few difficult
years and for their ongoing commitment to the Company as we embark on our new exploration program
at the Venus Project. By converting debt to shares, the Company will be able to ensure that shareholder
funds are directed into the projects and allow us to focus on developing the Company’s assets with a
much stronger balance sheet.”

Private Placement Update

As announced on August 8, 2018 the Company is currently undertaking a non-brokered private
placement to raise gross proceeds of between $500,000 and $1,000,000 to fund exploration at the
Company’s 100% owned Venus Copper Gold Project, Nevada. The private placement is subject to TSX
Venture approval.

Venus Property Exploration Plans

The Venus Project is located within the Yerington copper porphyry district in the Walker Lane mineralized
belt in Nevada. It is approximately six miles east-south-east of the Yerington township, and easily
accessible by both paved and dirt roads.

Altan Nevada’s decision to advance exploration at the Venus Project coincides with the recommencement
of development of Nevada Copper Corp.’s (TSX: NCU) Pumpkin Hollow Copper Mine immediately to the
north and less than one mile from the tenement boundary which is expected to produce an average 50
million pounds of copper annually over 23 years commencing mid-2019.

A news release highlighting the potential for the Venus Project was released on August 7, 2018. Venus
is considered to have the potential for the discovery of new deposits of similar size and grade to Pumpkin
Hollow. It also has the potential for discovery of buried porphyry-style copper mineralization with
characteristics similar to the Yerington Mine.

Shareholders Meeting

Altan Nevada will be holding a special meeting of its shareholders on October 5, 2018 (the “Meeting“) at
which it will seek shareholder approval for (a) a 2:1 consolidation of its common shares, (b) an
amendment to the Company’s articles to permit certain matters currently requiring shareholder approval
to be approved by the Company’s directors (including name changes and consolidations and subdivisions
of the Company’s share capital), and (c) chairman John Jones becoming a “control person” of the
Company as such term is defined under the applicable policies of the TSX Venture Exchange.

A Notice of Meeting and information circular in respect of the Meeting has been mailed to shareholders
of the Company, and will be posted under the Company’s profile at www.sedar.com.

Contact:

John Jones AM (Chairman)
Perth, Australia
Phone: +61 9322 1788
Email: [email protected]

Altan Nevada Minerals Ltd
800-1199 West Hastings Street
Vancouver BC Canada V6E-3T5
[email protected]

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 accuracy or adequacy of this
release.
CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS: This news release contains
forward-looking statements or forward-looking information (forward-looking statements). These
statements can be identified by expressions of belief, expectation or intention, as well as those
statements that are not historical fact. Forward-looking statements involve a number of risks,
uncertainties and assumptions that could cause actual results or events to differ materially from those
expressed or implied by the forward-looking statements. Forward-looking statements contained in thispress release are based on our current estimates, expectations and projections, which the Company
believes are reasonable as of the current date. Actual results could differ materially from those anticipated
or implied in the forward-looking statements and as a result undue reliance should not be placed on
forward-looking information.