Meryllion Resources Corporation (CSE:MYR, OTC:MYRLF) closed its shares-for-debt transaction with its CFO, settling $10,000 of accrued salary.
The company issued 200,000 common shares at a deemed price of $0.05 per share. The shares are subject to a hold period of four months and one day.
This transaction is categorized as a "related party transaction" under MI 61-101, but exemptions were applied as the fair market value did not exceed 25% of the corporation's market capitalization.