TORONTO, July 10, 2025 (GLOBE NEWSWIRE) — Seeley Holdings Ltd. (the “Company”) announces that the Company has entered into an agreement with Pasinex Resources Limited (the “Issuer”) to convert an aggregate principal amount of $1,116,636.85 of debt (the “Settlement Amount”) owing by the Issuer to the Company into common shares of the Issuer (the “Common Shares”) on a non-brokered private placement basis pursuant to the accredited investor exemption in section 2.3 of National Instrument 45-106 – Prospectus and Registration Exemptions (the “Debt Settlement Transaction”). The Company will acquire ownership and control of 14,888,491 Common Shares (the “Settlement Shares”) in exchange for the settlement of the Settlement Amount at a price of $0.075 per Settlement Share.
Prior to acquiring the Settlement Shares, the Company and its president Kevin Seeley owned and controlled 7,630,776 Common Shares, representing approximately 5.3% of the issued and outstanding Common Shares as of June 30, 2025, on a non-diluted basis. Following the Debt Settlement Transaction, Kevin Seeley and the Company will own 22,519,267 Common Shares representing approximately 13.0% of the outstanding Common Shares of the Issuer on a non-diluted basis, assuming the simultaneous issuance of Common Shares by the Issuer to other acquirors under similar debt settlement agreements.
The Settlement Shares were acquired by the Company for investment purposes and the Company intends to evaluate its investment and to increase or decrease holdings in the future as circumstances warrant. The Settlement Shares were not acquired on a market.
This news release is issued pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bids and Insider Reporting Issues, which also requires a report to be filed with regulatory authorities in each of the jurisdictions in which the Issuer is a reporting issuer containing information with respect to the foregoing matters (“Early Warning Report“). The Early Warning Report will be filed and made available under the SEDAR+ profile of the Issuer at www.sedarplus.ca. To obtain a copy of the Early Warning Report directly, please contact Kevin Seeley at 1 (705) 737 7303.
The head office of the Issuer is 550 Burrard Street, Suite 2900, Vancouver, British Columbia, Canada V6C 0A3.
Seeley Holdings Ltd.
“Kevin Seeley”
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Kevin Seeley, President
