TORONTO, Nov. 1, 2019 /CNW/ - Mistango River Resources Inc. (CSE: MIS, "Mistango" or the "Company"). Mistango River Resources wishes to disclose to shareholders that on September 30, 2019 the Company's former board of directors and management entered into an 8% interest bearing $50,000 secured promissory note agreement with Harbour Royalty Corporation ("Harbour").
In a separate transaction that was contemporaneous with Mistango's new Board of Directors ("New Board") assuming control of the Company on October 21, 2019, a private company controlled by Stephen Stewart, a member of the New Board, lent Mistango $55,000 dollars by way of a secured 8% interest bearing promissory note in order to pay off the Harbour note in full and discharge its principal, interest and costs. The loan from Mr. Stewart's company is intended to be paid off in the near term or converted into shares in any future equity transaction.
Mistango is a Canadian-based exploration and development company focusing on its Omega Mine project in Kirkland Lake, Ontario.
SOURCE Mistango River Resources Inc.
For further information: Stephen Stewart, Telephone: 416.644.1567