Latest news with #DebtSettlement
Yahoo
11-08-2025
- Business
- Yahoo
Overwhelmed by Bills? Why This Sometimes Risky Strategy Might Actually Be Right for You
In a time when inflation has driven up costs of living significantly, more Americans rely on credit cards and other loans to keep up. When high interest mounts, it can be easy to fall behind. Be Aware: Read Next: Debt consolidation is a method of getting out from under the burden of high interest to get ahead. While sometimes risky, depending upon the approach, in many circumstances it's a better alternative than drowning in bills or falling behind. Financial experts explained when and how to look into debt consolidation or settlement, as well as a few other ways to get out from under overwhelming bills or debt. Debt Consolidation Debt consolidation just refers to combining debts 'under one umbrella,' at a favorable interest rate, according to Kyle Enright, president at Achieve Lending. The goal with this method is to pay off debts with higher interest rates so you're left with just one loan at a relatively lower rate. There are many ways to secure the funds to do this, each with its pros and cons. He laid them out: Debt consolidation loan: 'This is just a personal loan used for the purpose of consolidating and paying off high-interest debt,' Enright said. You do typically need a good credit score to qualify, however, often in the mid-600s. Your credit history and debt-to-income ratio will also be considered. Balance transfer: This is when you transfer a high-interest credit card to one with a zero or very low interest rate. Note that you will want to 'be able to pay off the transferred balance before the end of the promotional rate, which could be anywhere from six to about 21 months,' Enright warned. You'll need good to excellent credit. Home equity: Homeowners with substantial equity in their homes and with very good credit may qualify for a home equity line of credit or home equity loan and then use the funds to consolidate and pay off debt. Retirement account: You may be able to borrow from a 401(k) or other retirement account and use the money to consolidate and pay off debt, but it's usually not a good idea, Enright warned. Life insurance: It's also possible to borrow from a life insurance policy, but any amount withdrawn is money that will not go to beneficiaries. Vehicle loan: You may be able to take out a loan on a vehicle with a clear title. Terms can be complicated and interest high, and if you miss any payments, you risk losing the vehicle. Friends or family members: You may be able to borrow and use the funds to pay off other debts. While you may find a better interest rate than a bank would offer, there is also the possibility for strained relationships, and if you have trouble repaying, even legal action against you. Find Out: When Debt Consolidation Is Right for You Debt consolidation may be right for you under a variety of circumstances, according to Melanie Musson, a personal finance expert with Good credit but too much debt: If a person holds a lot of debt but they have a good credit score and a good debt-to-income ratio, debt consolidation can help them to eliminate their debts more quickly and with a lower interest rate. Multiple debt sources: Debt consolidation can make sense when you feel overwhelmed by multiple sources of high-interest debt and are struggling to keep track of payment dates and balances. High-interest debt: Debt consolidation can also be a good idea if your sources of debt are primarily the high-interest type. Quicker balance pay down: Consolidation can help you save money over time if you can pay off the balances more quickly with the consolidation plan than if you had paid off your debts individually. When Debt Consolidation Is Not Right for You Debt consolidation is not for everyone, however. It's usually not the best solution for people who are struggling to make minimum payments on current debt, Enright warned — particularly if they are in that situation because of a true financial hardship, such as loss of a job or loved one, a divorce or high medical bills. In that case, debt settlement may be a better option than trying to take on additional debt — though that will have an immediate impact on your credit score. If you're looking to pay off high-interest debt, and you can obtain lower-interest debt to do so, it can make sense. 'You just need to make sure your budget can comfortably accommodate the payments, and that you don't rack up new debt on either the old or new loans,' Enright said. More From GOBankingRates New Law Could Make Electricity Bills Skyrocket in These 4 States I'm an Economist: Here's When Tariff Price Hikes Will Start Hitting Your Wallet 5 Strategies High-Net-Worth Families Use To Build Generational Wealth 10 Used Cars That Will Last Longer Than the Average New Vehicle This article originally appeared on Overwhelmed by Bills? Why This Sometimes Risky Strategy Might Actually Be Right for You
Associated Press
16-07-2025
- Business
- Associated Press
Romios Gold Resources Inc. Announces $968,000 Insider Debt Settlement
Toronto, Ontario--(Newsfile Corp. - July 16, 2025) - Romios Gold Resources Inc. (TSXV: RG) (OTC Pink: RMIOF) (FSE: D4R) ('Romios Gold' or the 'Company') is pleased to announce that it has entered into agreements to settle an aggregate of $968,386 of debt owed to four officers, one director, one former director, and one former director and officer for management fees, directors fees and salary, in consideration for the issuance of 25,578,450 common shares of the Company at a price of $0.02 per share (the 'Debt Settlement'). A total of $266,569 of debt owed to four officers and two directors will be settled for 13,328,450 common shares at a price of $0.02 per share. Anastasios (Tom) Drivas ('Tom Drivas'), a former director of the Company and former President and CEO, was owed $701,817.07 for salary for the period from February 2016 to January 2022. He has agreed to forgive $201,817.07 of accrued salary owed to him, reducing his outstanding salary to $500,000 (the 'Reduced Salary'). His Reduced Salary will be settled in consideration for the issuance of $245,000 of common shares at $0.02 per common share for a total of 12,250,000 common shares. The Company will be obligated to pay the remainder of his Reduced Salary, being $255,000, to the Canada Revenue Agency for source deductions. The Company also wishes to announce that Tom Drivas has resigned as a director of the Company. Stephen Burega, President and a Director of the Company, stated, 'on behalf of the Board of Directors of the Company, I would like to express my sincere thanks and appreciation for the contribution Tom Drivas has made over the years to the Company since its formation. As the Company founder, the former President and CEO and a director, Tom was instrumental in acquiring the Company's highly prospective Lundmark-Akow Lake and Golden Triangle properties. We wish Tom all the best in his future endeavours.' Mr. Drivas will continue as a consultant to the Company. Closing of the Debt Settlement is subject to customary closing conditions, including the approval of the TSX Venture Exchange. The common shares to be issued pursuant to the Debt Settlement will be subject to a statutory hold period of four months and one day from the date of issuance, in accordance with applicable securities laws and TSX Venture Exchange policies. The settlement of an aggregate of $511,569 of insider debt in consideration for 25,578,450 common shares is exempt from the valuation and minority shareholder approval requirements of Multilateral Instrument 61-101 ('MI 61-101") by virtue of the exemptions contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in that the fair market value of the consideration for the securities of the Company to be issued to insiders does not exceed 25% of its market capitalization. In accordance with the provisions of MI 61-101 the Debt Settlement will not close until at least 21 days after the filing of a material change report with respect to the Debt Settlement. Early Warning Disclosure Regarding Tom Drivas Tom Drivas, a former director of the Company, will acquire 12,250,000 common shares pursuant to the Debt Settlement. Immediately prior to the completion of the Debt Settlement, Tom Drivas beneficially owns, directly or indirectly, or exercises control or direction over, 21,192,287 common shares, 833,333 common share purchase warrants (the 'Warrants') with each warrant exercisable at $0.05 for one (1) common share of the Company, until October 27, 2025, and 800,000 stock options (the 'Options') exercisable at between $0.05 and $0.08 until January 14, 2026 representing approximately 8.03% of the issued and outstanding Common Shares on a non-diluted basis and 8.6% on a partially diluted basis. Immediately following the closing of the Debt Settlement, Tom Drivas will beneficially own, directly or indirectly, or exercise control or direction over, 33,442,287 Common Shares, and the Warrants and Options, representing approximately 11.56% of the issued and outstanding Common Shares on a non-diluted basis and 12.05% on a partially diluted basis. Tom Drivas has advised that the common shares will be acquired for investment purposes and that he has no present intention to either increase or decrease his holdings in the Company. Notwithstanding the foregoing, he has advised that he may increase or decrease his beneficial ownership, control or direction over common shares of the Company through market transactions, private agreements, exercise of warrants, other treasury issuances or otherwise. This news release is issued pursuant to National Instrument 62-103 - The Early Warning System and related Take-Over Bid and Insider Reporting Issues of the Canadian Securities Administrators, which also requires an early warning report to be filed with the applicable securities regulators containing additional information with respect to the foregoing matters. A copy of this early warning report in respect of this transaction will be available on the Company's issuer profile on SEDAR+ at About Romios Gold Resources Inc.: Romios Gold Resources Inc. is a progressive Canadian mineral exploration company engaged in precious- and base-metal exploration, focused primarily on gold, copper and silver. It has a 100% interest in the Lundmark-Akow Lake Au-Cu property plus 4 additional claim blocks in northwestern Ontario and extensive claim holdings covering several significant porphyry copper-gold prospects in the 'Golden Triangle' of British Columbia. Additional interests include two former producers in Nevada: the Kinkaid claims in the Walker Lane Trend covering numerous Au-Ag-Cu workings, and the Scossa mine property in the Sleeper Trend which is a former high-grade gold producer. The Company retains an ongoing interest in several properties including a 2% NSR on McEwen Mining's Hislop gold property in Ontario; a 2% NSR on Enduro Metals' Newmont Lake Au-Cu-Ag property in BC, and the Company has signed a definitive agreement with Copperhead Resources Inc. ('Copperhead') whereby Copperhead can acquire a 75% ownership interest in Romios' Red Line Property in BC. For more information, please click here for Romios' further information, please contact: Kevin M. Keough, CEO - (613) 219-9317 or [email protected] Stephen Burega, President - (647) 515-3734 or [email protected] To view the source version of this press release, please visit
Yahoo
11-07-2025
- Business
- Yahoo
AlphaGen Announces Closing of Debt Settlement Transaction
VANCOUVER, British Columbia, July 10, 2025 (GLOBE NEWSWIRE) -- AlphaGen Intelligence Corp. (CSE: AIC | OTC: APETF | FSE: W4V) ('AlphaGen'' or the 'Company') announces, further to its news release dated July 3, 2025, that it has issued 2,251,326 common shares in the capital of the Company (each, a 'Share'), at a deemed price of $0.1463 per Share in settlement of outstanding debts owed to certain creditors of the Company, including Eli Dusenbury (a director and the CFO of the Company) in the amount of $329,369.58 (the 'Debt Settlement'). The Shares issued pursuant to the Debt Settlement are subject to a statutory hold period expiring November 11, 2025, being the date that is four months and one day from the date of issuance in accordance with applicable securities laws. Mr. Dusenbury's participated in the Debt Settlement by receiving 147,641 Shares to settle $21,600 in outstanding debt. The participation of Mr. Dusenbury constitutes a 'related party transaction' as defined under Multilateral Instrument 61-101 – Protection of Minority Securityholders in Special Transactions ('MI 61-101'). The Company is relying on the exemptions from the formal valuation and minority approval requirements found in sections 5.5(a) and 5.7(1)(a) of MI 61-101, as the fair market value of the transaction (as it relates to Mr. Dusenbury) is not more than 25% of the Company's market capitalization. About AlphaGen Intelligence Corp. AlphaGen Intelligence Corp. (CSE: AIC) (OTC: APETF) (FSE: W4V) is a publicly traded company, holding a portfolio of assets in gaming, entertainment, eCommerce, and retail. Operational units include: Shape Immersive, a full service metaverse studio building the future of web3 gaming and virtual retail experiences for Fortune 500 companies and beyond through 3D, spatial computing and game production; MANA, a SaaS solution and innovation lab that empowers partner companies to level up their community engagement by launching their own gaming platforms; AlphaGen clients and partners include RTFKT, Olympics, Red Bull, Intel, TED and more. Learn more at: Contact: Investor Relations: info@ - 604 359 1256Media and Public Relations: info@ On Behalf of The Board of Directors Eli DusenburyCFO and Director Cautionary Note Regarding Forward-Looking Statements Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words 'could', 'intend', 'expect', 'believe', 'will', 'projected', 'estimated' and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current beliefs or assumptions as to the outcome and timing of such future events. In particular, this press release contains forward-looking information relating to, among other things, the Debt Settlement. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information, including, in respect of the forward looking information included in this press release, the assumption that the Canadian Securities Exchange will accept the terms of the Debt Settlement and that the debt settlement will proceed as currently anticipated on the timing currently anticipated. Although forward-looking information is based on the reasonable assumptions of the Company's management, there can be no assurance that any forward-looking information will prove to be accurate. Forward looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include, among other things, the risk that the Debt Settlement does not close on the timeline expected, or at all, including as a result of failure to receive the approval of the Canadian Securities Exchange for the Debt Settlement. The forward looking information contained in this release is made as of the date hereof, and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward looking information contained herein. The Canadian Securities Exchange has not reviewed, approved, or disapproved the contents of this press in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Associated Press
06-06-2025
- Business
- Associated Press
Torq Completes $3.12 Million Recapitalization Transactions
NOT FOR DISTRIBUTION TO U.S. WIRE SERVICES OR FOR DISTRIBUTION INTO THE UNITED STATES VANCOUVER, BC / ACCESS Newswire / June 6, 2025 / Torq Resources Inc. (TSXV:TORQ)(OTCQB:TRBMF) ('Torq' or the 'Company') is pleased to announce that, further to its March 24, 2025 news release, it has completed its previously announced private placement, by issuing 25,152,633 units of the Company (each, a 'Unit') at an offering price of $0.06 per Unit for gross proceeds of C$1,509,158 (the 'Offering'). Each Unit consists of one common share (a 'Share') and a Share purchase warrant (each, a 'Warrant') exercisable until June 6, 2027 to acquire a Share for C$0.12. The Warrants are subject to an accelerated expiry if, anytime following the date that is four months after the Closing Date, the closing price of the common shares of the Company on the TSXV, or such other market as the common shares may trade from time to time, is or exceeds $0.30 for any 10 consecutive trading days, in which event the holder of the Warrants may, at the Company's election, be given notice and the Company will issue a press release announcing that the financing Warrants will expire 30 days following the date of such press release. The Offering Warrants may be exercised by the holder of the Warrant during the 30-day period after the date of the press release announcing the accelerated expiry date. The placement proceeds from the Offering will be used for working capital. In addition, the Company has issued 1,998,829 Shares to non-arm's length creditors and 19,619,394 Units (identical to those in the Offering) to arm's length creditors to settle an aggregate of $1,297,093.60 of debts (the 'Debt Settlement'). The debts relate primarily to the 2024 Minera Santa Drilling Campaign and also include $310,000 which was advanced and spent pursuant to the previous private placement financing, announced on October 2, 2024 and November 18, 2024, which did not complete. In connection with the closing of the Offering, the Company paid cash finder's fees of $51,012 and issued 800,200 non-transferable one-year finder's warrants. Each finder's warrant will entitle the holder thereof to purchase one common share of the Company at the exercise price of C$0.06 until June 6, 2026. Each finder's warrant is also subject to the accelerated expiry as described above. The Company is continuing to seek regulatory approval for the extension of its credit facility for a further one-year period until July 11, 2026. In accordance with applicable securities laws, the securities issued under the Offering and Debt Settlement are subject to a statutory four-month and one-day hold period from the date of issuance in Canada. There was no insider participation in the Offering. 1,998,829 shares were issued to non-arm's length creditors in the Debt Settlement. The Company will be relying on the exemption from the formal valuation and minority shareholder approval requirements pursuant to sections 5.5(a) and 5.7(1)(a) of Canadian Multilateral Instrument 61-101 - Protection of Minority Shareholders in Related Party Transactions, as neither the fair market value of any securities issued to nor the consideration paid by such person could exceed $2.5 million or 25% of the Company's market capitalization. None of these securities will be registered under the United States Securities Act of 1933, as amended (the 'U.S. Securities Act'), or any U.S. state securities laws, and may not be offered or sold in the United States without registration under the U.S. Securities Act and all applicable state securities laws or else in compliance with the requirements of an applicable exemption therefrom. A Message from Shawn Wallace, CEO: 'The Offering and Debt Settlement transactions greatly improve our financial position and should provide the impetus for a more active 2025. We are looking forward to the receipt of assays on the Santa Cecilia project where exploration funding is being provided by Gold Fields under an earn-in option.' ON BEHALF OF THE BOARD, Shawn Wallace CEO & Chair For further information on Torq Resources, please visit or contact the company at (778) 729-0500 or [email protected]. About Torq Resources Torq is a Vancouver-based copper and gold exploration company with a portfolio of premium holdings in Chile. The Company is establishing itself as a leader of new exploration in prominent mining belts, guided by responsible, respectful and sustainable practices. The Company was built by a management team with prior success in monetizing exploration assets and its specialized technical team is recognized for their extensive experience working with major mining companies, supported by robust safety standards and technical proficiency. The technical team includes Chile-based geologists with invaluable local expertise and a noteworthy track record for major discovery in the country. Torq is committed to operating at the highest standards of applicable environmental, social and governance practices in the pursuit of a landmark discovery. For more information, visit Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. SOURCE: Torq Resources Inc. press release
