January 9, 2026, Calgary, Alberta, Canada – Record Resources Inc. (TSXV: REC) reports that it has entered into a debt settlement agreement with a former consultant to settle an amount of $300,000 in outstanding debt obligations through the issuance of 6,000,000 common shares of Record Resources at a deemed price of $0.05 per common share.
The pricing of the shares in this transaction was set in a company news release on July 8, 2025 (please see July 8, 2025 news release).
The Shares for Debt Transaction is intended to preserve the Company’s cash resources as it advances its exploration strategy and continues to streamline its balance sheet.
Closing of the Shares for Debt Transaction is subject to customary closing conditions, including the approval of the TSX Venture Exchange. The Common Shares to be issued pursuant to the Shares for Debt Transaction will be subject to a statutory hold period of four months and one day from the date of issuance, in accordance with applicable securities laws and TSX Venture Exchange policies.