NETWORK EXPLORATION LTD. ("NET") BULLETIN TYPE: Shares for Debt BULLETIN DATE: August 6, 2014 TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing the Company's proposal to issue 8,784,720 shares and 1,755,254 share purchase warrants to settle outstanding debt for $439,236. A total of 3,725,560 shares ($186,128 of debt) will be subject to a concurrent Exchange hold period of one year with 20% released upon Exchange acceptance, and an additional 20% released every 3 months thereafter.
Number of Creditors: 13 Creditors
Insider / Pro Group Participation: (No warrants associated with Insider Participation)
Insider=Y / Amount Deemed Price Creditor Progroup=P Owing per Share # of Shares Redonda Management Ltd. Y $66,253.09 $0.05 1,325,062 (A. Helmel) Friesen Geological Services Inc. Y $7,882.00 $0.05 157,640 (Robert Friesen) Squid22 Ltd. Y $5,650.00 $0.05 113,000 (Rick Vaive) Darren Urquhart Charted Accounting Y $8,400.00 $0.05 168,000 (Darren Urquhart)
Non Insider Warrants: 1,755,254 share purchase warrants to purchase 1,755,254 shares
Warrant Exercise Price: $0.10 for a two year period
The Company shall issue a news release when the shares are issued and the debt extinguished. ________________________________________
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