TGX closes debt settlement
The Company settled $190,451 of outstanding debt through the issuance of 1,904,612 common shares and 952,256 warrants.
TGX Energy & Resources Inc. closed its previously announced debt settlement transaction on May 21, 2026.
The Company settled an aggregate of $190,451 in outstanding debt, accrued through geological consulting fees and expenses, by issuing 1,904,612 common shares at a deemed price of $0.10 per share together with 952,256 warrants. Each warrant is exercisable at $0.13 per share for a period of one year from issuance.
The settlement removes a legacy payable from the balance sheet without drawing on cash. Following this transaction and the private placement completed in April, the Company had 14,297,062 common shares outstanding.
Source: Q1 2026 management discussion and analysis, for the three months ended March 31, 2026.
Authoritative version
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