Portofino Amends Amount of Debt to Be Issued for Shares
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Portofino Resources Inc. has amended its debt settlement plan, reducing the amount of debt to be settled from $205,000 to $105,000 by issuing 10,500,000 common share Units at $0.01 per Unit.
February 03, 2025 | 11:30 pm
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Portofino Resources Inc. has reduced its debt settlement from $205,000 to $105,000 by issuing 10,500,000 shares at $0.01 each.
The reduction in debt settlement amount and issuance of shares could dilute existing shareholders but also improve the company's balance sheet by reducing liabilities. The impact on stock price is neutral as the market may have already priced in the initial announcement.
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