PLANTATION, Fla., Nov. 13, 2019 (GLOBE NEWSWIRE) -- Atacama Resources International, Inc. (OTC: ACRL) (“Atacama”), a publicly traded exploration company with over 3000 acres of mineral claims in Northeastern Ontario announces that it has eliminated all of its current outstanding convertible debt.
On November 4, 2019, final payment was received by a debt holder effectively eliminating all current outstanding convertible debt. All convertible notes have been cancelled and returned to Atacama and procedures have been commenced via the Courts in the State of New York confirming that a judgment that was in place has been satisfied.
“Today’s announcement represents another significant step forward for Atacama. The completion of these transactions will allow us to continue to focus our efforts on the execution of our strategic vision while investing in ongoing mineral exploration,” said David Berry, Chairman of the Atacama Board of Directors. “Our management team worked diligently to achieve this tremendous result, and I am proud of their work in finalizing these settlements, ensuring that we have strengthened the company's balance sheet and created a much clearer path towards success”.
"We are very pleased to be able to put this debt behind us. To be sure, this is another strong step in the right direction for our company,” said Colin Keith, Atacama President and CEO. “We wish to thank the convertible debt holders for working with us to find a solution, as well as the company’s investors and shareholders for their unwavering support throughout this process. I am very pleased with where we are as a company in terms of our continued transformation, which began roughly two (2) months ago with the appointment of a new slate of directors to its Board as well as changes to its senior leadership. We have focused on attracting top-notch talent and rebuilding this company from the ground up. I am extremely happy with what we have accomplished in a short period of time. Moving forward, we will continue to advance our exploration programs while actively looking to expand our existing portfolio of mineral claims,” Keith concluded.
About Atacama Resources International (www.acrlintl.com)
Atacama Resources International is a publicly traded OTC Pink company with significant mining claims in the greater Kirkland Lake area of Northern Ontario. Metals and minerals under potential exploration include gold, silver, copper, graphite and cobalt.
Forward Looking Statements
Certain information set forth in this news announcement may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of Atacama Resources International, Inc. (the “Company”). Such forward-looking statements are based on current expectations, estimates and projections about the Company’s industry, management beliefs and certain assumptions made by its management. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. Also, forward-looking statements represent our management's beliefs and assumptions only as of the date hereof. Information concerning factors that could cause the Company's actual results to differ materially from those contained in these forward-looking statements can be found in the Company's periodic reports as filed on the OTC Markets. Unless required by law, the Company undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events, or otherwise to reflect future events or circumstances or reflect the occurrence of unanticipated events.
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