Tantalex Lithium Resources Corp. (CSE: TTX – FSE: DW8 – OTCQB: TTLXF) plans to address its debts by issuing shares and warrants to various creditors, aiming for financial stabilization.

Tantalex’s Strategic Debt Settlement

Tantalex has announced its decision to resolve debts with International Cobalt Corp., involving a transfer of CDN$5,324,275.30 through 106,485,506 common shares and 50,000,000 purchase warrants. This move comes as a response to outstanding convertible debentures, enhancing the company’s equity base without impacting its cash reserves. Additionally, the company will convert debts into equity for digital marketing and consulting services, further demonstrating its commitment to growth and operational efficiency.

Benefits of the Settlement

The issuance of common shares and warrants as part of the debt settlement serves to preserve Tantalex’s cash for essential working capital. The Board of Directors has endorsed this approach as beneficial for the company’s financial health. The transactions are subject to standard closing conditions, with the company aiming to finalize the process promptly.

About Tantalex Lithium Resources Corporation

Tantalex Lithium, involved in lithium, tin, and tantalum mining within Africa, focuses on unlocking the potential of high-tech mineral properties. With operations centered around the Manono area in the Democratic Republic of Congo, the company is dedicated to advancing its lithium assets and contributing to the high-tech minerals market.

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