Goldhills Holding Ltd. press release
Fieldex announces proposed shares for debt settlement with debentureholder
TSXV - TSX Venture Exchange · Copper · Molybdenum · Silver · Gold · Zinc · Canada
ROUYN-NORANDA, QC, Feb. 1 /CNW Telbec/ - Fieldex Exploration Inc. (TSXV - FLX, FSE - F7E) announces that it is effecting, subject to regulatory approval, a shares for debt settlement with one debentureholder. In April 2005, Fieldex issued a convertible debenture in the principal amount of $100,000 to a Quebec-based institutional investor. The convertible debenture provides for the payment of interest at an annual rate of 12%, due on October 21 and April 21 of each year. Fieldex reached an agreement with the debentureholder whereby Fieldex will pay the interest owing on October 21, 2005 by issuing 40,110 common shares at a price of $0.15 per share, being the same price as the private placement that Fieldex completed in November of 2005.
About Fieldex:
Fieldex is a mineral resource company actively exploring deposits in Quebec in partnership with FNX Mining Company for nickel-copper-platinum group metal and for gold with Cambior and LakeShore Gold Corp. Fieldex owns many properties located in Northern Quebec, representing over 600 km(2).
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.