Toronto, Ontario--(Newsfile Corp. - November 5, 2026) - Paragon Advanced Labs Inc. (TSXV: PALS) ("Paragon" or the "Company") is pleased to announce that, further to its news release dated August 31, 2026, the Company has completed a debt settlement transaction (the "Debt Settlement") to settle indebtedness owing to consultants of the Company (collectively, the "Creditors").
Pursuant to the Debt Settlement, the Company settled an aggregate of $794,201.40 in outstanding indebtedness through the issuance of 256,194 common shares of the Company (the "Settlement Shares") at a deemed price of $3.10 per Settlement Share.
Two of the creditors are considered Non-Arm's Length Parties (as such term is defined in the policies of the TSX Venture Exchange (the "Exchange")). In connection with the Debt Settlement, the Company issued an aggregate of 19,354 Settlement Shares to such Non-Arm's Length Parties in settlement of indebtedness totaling $59,997.40.
The Exchange has conditionally accepted the Debt Settlement. The Settlement Shares are subject to a statutory hold period of four months and one day from the date of issuance.
About Paragon Advanced Labs Inc.
Paragon Advanced Labs Inc. provides innovative analytical technologies to the global mining industry. By embracing new technology, the Company is addressing critical capacity bottlenecks in mineral assaying through the deployment of PhotonAssay™ technology and complementary analytical solutions. The Company delivers faster, more accurate, and cost-effective mineral analysis for mining operators worldwide.
ON BEHALF OF THE BOARD OF DIRECTORS OF PARAGON ADVANCED LABS INC.
Peter Shippen
Chief Executive Officer and Director
Paragon Advanced Labs Inc.
For more information, contact:
Peter Shippen, Chief Executive Officer and Director
Email: peter.shippen@paragongeochem.com
Forward-looking Statements
This news release contains "forward-looking statements" within the meaning of applicable Canadian securities legislation. Forward-looking statements are based on expectations, estimates and projections as of the date of this news release and are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements in this release may include, but are not limited to, statements regarding the Company's plans, business objectives, strategy, financial or operational performance, future market conditions, and other future events or conditions. Forward-looking statements are often identified by words such as "anticipate," "believe," "expect," "estimate," "intend," "may," "plan," "project," "should," "will," and similar expressions. These statements are not guarantees of future performance and involve risks and uncertainties, including those described in the Company's public filings available under its profile on SEDAR+. Readers are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly, are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements.
Neither the Exchange nor its Regulation Services Provider (as the term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this news release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/322737
Source: Paragon Advanced Labs Inc.