Fabled Copper Corp. (CSE:FABL) told investors that it closed, on August 10, 2023, its previously announced debt settlement under which it settled an aggregate amount of C$30,000 in outstanding debt in exchange for the issuance of 375,000 units at C$0.08 each.
Each unit consists of one common share and one purchase warrant, with each warrant entitling the holder to acquire one common share for $0.12 for 24 months from closing.
The company also announced that it will not pursue the acquisition of the TJ Property and that the letter of intent announced on December 19, 2022, has expired.