Vena Issues Shares to Settle Debt and Provides Board Update
TORONTO, Aug. 21, 2013 /CNW/ - Vena Resources Inc. (the "Company" or "Vena") (TSX: VEM, Peru: VEM, Germany: V1RA, USA: VNARF) announces that it has entered into debt settlement agreements to settle trade payables for the aggregate settlement amount of $150,350.62, through the issuance of an aggregate of 1,642,651 common shares in the capital of the Company, at an average price of $0.092 per common share. Included in these debt settlements are 189,994 common shares issuable to insiders of the Company. Common shares issued will be subject to a four-month and a day hold period from the date of issuance in accordance with applicable securities laws. The transactions contemplated under the debt settlement agreements are subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including that of the Toronto Stock Exchange.
The Company would also like to extend its gratitude for the contribution made to Vena by Klaus Zeitler who recently resigned from the board of directors.
The TSX does not accept the responsibility for the adequacy or accuracy of this release. Statements in this press release regarding the Company's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties, such as estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements.
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