Search Minerals Inc. (TSX.V: SMY) (OTC: SHCMF) has entered into agreements to settle an aggregate $395,496 in outstanding indebtedness through the issuance of 790,992 common shares at a deemed price of $0.50 per share. This move is designed to preserve cash and strengthen the company's balance sheet. The shares are subject to a four-month-and-one-day statutory hold period and require TSX Venture Exchange approval.
Additionally, the company confirmed it has received TSX Venture Exchange approval to settle an additional $404,054 in debt owed to LeadFX through the issuance of 808,107 common shares issued on December 1, 2025. These shares are also subject to a four-month hold period, fully extinguishing that obligation. Together, these transactions total $799,550 in debt settlement through share issuances.
Search Minerals is focused on exploring for and developing Critical Rare Earths Elements (CREE) as well as transition metals Zirconium (Zr) and Hafnium (Hf) within the emerging Port Hope Simpson – St. Lewis CREE District of South-East Labrador. The company controls two deposits (Foxtrot and Deep Fox), two drill ready prospects (Fox Meadow and Silver Fox), and numerous other CREE prospects along a 64-kilometre long belt forming a CREE District in Labrador. It also controls additional CREE assets in the Red Wine CREE District of central Labrador, including the drill ready Two Tom Lake CREE-Be-Nb deposit, the Mann #1 CREE-Nb-Be prospect, and Merlot CREE Prospect.
For more information, the full press release is available at https://ibn.fm/yoqN2. The latest news and updates relating to SHCMF are available in the company’s newsroom at https://ibn.fm/SHCMF.
