Oracle commodity announces debt settlement of $10,000 in shares

Vancouver, british columbia--(newsfile corp. - july 19, 2024) - oracle commodity holding corp. (tsxv: orcl) (otcqb: orlcf) ("oracle" or the "company") announces that it has entered into an agreement to settle $10,000 of debt owed to a director of the company for management fees in consideration for the issuance of 105,263 common shares of the company at a deemed price of $0.095 per share (the "debt settlement"). the insider debt settlement of $10,000 and 105,263 common shares are exempt from the valuation and minority shareholder approval requirements of multilateral instrument 61-101 ("mi 61-101") by virtue of the exemptions contained in sections 5.5(a) and 5.7(1)(a) of mi 61-101 in that the fair market value of the consideration for the securities of the company to be issued to insiders does not exceed 25% of its market capitalization.
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