VANCOUVER, BRITISH COLUMBIA–(Marketwired – Nov. 11, 2016) – Rugby Mining Limited (“Rugby” or the “Company”) (TSX VENTURE:RUG) announces that it has entered into an agreement to settle an aggregate of CAD$130,000 in outstanding debt owed to Rowen Company Limited (“Rowen”), a company controlled by Bryce Roxburgh, the Chairman of the Company, for management services provided to the Company. The Company is proposing to settle the debt by issuing an aggregate of 433,333 common shares of the Company at a deemed price of $0.30 per debt share. All debt shares issued to settle the debt will be subject to a four-month hold period, and the issuance of the debt shares will be subject to approval of the TSX Venture Exchange.
For additional information you are invited to visit the Rugby Mining Limited website at www.rugbymining.com.
NEITHER 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 RELEASE
Paul Joyce
President and CEO
604.688.4941 or Toll-free: 1.855.688.4941
604.688.9532 (FAX)
[email protected]
www.rugbymining.com
