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VICTORIA, BC, Feb. 4, 2022 /CNW/ – Cosigo Resources Ltd. (“Cosigo” or the “Company”) (TSXV:CSG) (NEX: CSG.H) announces revocation of cease trade order on February 1, 2022 Upon satisfying the previously pending financial disclosure requirements of the British Columbia Securities Commission and the Alberta Securities Commission, the two jurisdictions the Company is under continuous disclosure reporting requirements to.
Corporate Update
Debt Conversion
Cosigo was granted a partial lifting of the CTO issued on January 22, 2021 for purposes of issuance of debt conversion units related to shareholder loans provided by certain shareholders in order to ensure the survival of the Company while the Company was being re-constituted in accordance with instructions from regulatory authorities. The debt conversion was structured in compliance with accredited accredited investor exemptions in section 2.3 of National Instrument 45-106 Prospectus Exemptions (NI45-106), and family, friends and business associates exemption in section 2.5 of that instrument. Funds were employed for legal fees, auditors and consultants fees, title maintenance fees, transfer agent and listing fees, bookkeeping, and general working capital.
The debt conversion units were issued at a deemed price of $0.05 and comprised one common share and one warrant exercisable at $0.06 for one share for a period…
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