TORONTO, ON — January 15, 2026 — Leads & Copy — Pasinex Resources Limited has announced the issuance of 33,405,205 common shares to its creditors in exchange for outstanding debt totaling C$3,340,520.
The “Shares for Debt Transaction” involves the issuance of shares to 1514341 Ontario Inc., Seeley Holdings Ltd., Joachim Rainer, Golden Summit FZ LLC, and other suppliers and investors. The shares are priced at $0.10 each, in accordance with Canadian Securities Exchange (CSE) policies.
Pasinex is undertaking this transaction to strengthen its financial standing by reducing existing liabilities. The Settlement Shares will be subject to a four-month hold period from the closing date, as per Canadian securities laws, and any other applicable restrictions in jurisdictions outside of Canada.
As part of the Shares for Debt Transaction, Pasinex has amended the remaining outstanding debt of C$2,045,735 owed to participating creditors. The amendment includes an option for these creditors to convert all or part of their debt into common shares of the company at C$0.10 per share, subject to securities laws and CSE policies, for up to 36 months.
Pasinex retains the right to repay the remaining debt in cash. Any debt converted into shares will be considered fully satisfied.
The issuance of Settlement Shares to 151 Ontario, Seeley Holdings Ltd., Joachim Rainer, and Golden Summit FZ LLC constitutes a “related party transaction” under Multilateral Instrument 61-101. 151 Ontario is controlled by Larry Seeley, Chairman of Pasinex. Seeley Holdings Ltd. is controlled by Kevin Seeley, who holds or controls 11.4% of Pasinex’s shares. Golden Summit FZ LLC is controlled by Mehmet Komurcu, a director of Pasinex, as is Joachim Rainer.
Pasinex is relying on exemptions from valuation and minority shareholder approval requirements under sections 5.5(a) and 5.7(1)(a) of MI 61-101. The fair market value of the Settlement Shares and the Debt does not exceed 25% of Pasinex’s market capitalization. The company did not file a material change report at least 21 days before the debt settlement closing, deeming it reasonable to expedite the improvement of its financial position.
Pasinex Resources Limited is a zinc-focused mining company based in Toronto. Its subsidiary, Horzum A.Ş, operates the Pinargözü high-grade zinc mine in Türkiye. Pasinex also owns 100% of the Sarıkaya Group IV lead-zinc operating license in Türkiye and holds a 51 percent interest in the Gunman Project, a zinc exploration project in Nevada.
Ian D. Atacan, Director and Chief Financial Officer of Pasinex Resources Limited, can be reached at +1 416.562.3220 or ian.atacan@pasinex.com.
Evan White, Manager of Corporate Communications, can be reached at +1 416.906.3498 or evan.white@pasinex.com.
Source: Pasinex Resources Limited
