Vancouver, British Columbia--(Newsfile Corp. - July 29, 2025) - Eureka Lithium Corp. (CSE: ERKA) (OTCQB: UREKF) (FSE: S58) ("Eureka Lithium" or "Eureka" or the "Company") announces that, further to its news release dated July 14, 2025, it has issued an aggregate of 1,018,945 common shares (each, a "Share") in the capital of the Company at a deemed price of C$0.1425 per Share to settle debts owed and outstanding loans to various creditors for a total amount of $145,200 (the "Debt Settlements").
In connection with the Debt Settlements, Dave Bowen, the CEO and a director of the Company, received 110,526 Shares to settle the C$15,750 he was owed. The issuance of Mr. Bowen's Shares is considered a "related party transaction" pursuant to Multilateral Instrument 61-101- Protection of Minority Holders in Special Transactions ("MI 61-101") and is exempt from the formal valuation and minority shareholder approval requirements of MI61-101 by virtue of the exemptions contained in Sections 5.5(b) and 5.7(1)(b) of MI 61-101.
The Shares issued in connection with the Debt Settlements are subject to a statutory hold period of four months following the date of issuance, in accordance with applicable securities legislation and Canadian Securities Exchange ("CSE") policies.
About Eureka Lithium Corp.
Eureka Lithium is the largest lithium-focused landowner in the northern third of Quebec, known as the Nunavik region, with 100% ownership of three projects comprising 2,108 sq. km in the emerging Raglan West, Raglan South and New Leaf Lithium Camps. These claims were acquired from legendary prospector Shawn Ryan and are located in a region that hosts two operating nickel mines with deep-sea port access.
For more information, please contact:
David Bowen
Chief Executive Officer
Email: info@eurekalithiumcorp.com
Cautionary Statement
Certain statements contained in this news release, including statements which may contain words such as "expects", "anticipates", "intends", "plans", "believes", "estimates", or similar expressions, and statements related to matters which are not historical facts, such as statements regarding the closing of the debt settlement and the hold period of the Shares, are forward-looking information within the meaning of applicable securities laws. Such forward-looking statements reflect management's expectations and are based on certain factors and assumptions and involve known and unknown risks and uncertainties which may cause the actual results, performance, or achievements to be materially different from future results, performance, or achievements expressed or implied by such forward-looking statements. These factors should be considered carefully, and readers should not place undue reliance on the Company's forward-looking statements. The Company believes that the expectations reflected in the forward-looking statements contained in this news release are reasonable, but no assurance can be given that these expectations will prove to be correct. The Company undertakes no obligation to release publicly any future revisions to forward-looking statements to reflect events or circumstances after the date of this news or to reflect the occurrence of unanticipated events, except as expressly required by law.
The Canadian Securities Exchange (CSE) has not reviewed, approved, or disapproved the contents of this press release.
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/260626
