.jpg)
1 hour ago
2
Article content
TORONTO, Sept. 17, 2025 (GLOBE NEWSWIRE) — Pursuant to a shares for debt transaction that closed on September 4, 2025, Future Mineral Resources Inc. (“FMR” or the “Company”) (formerly Sulliden Mining Capital Inc.) issued 12,000,000 of its common shares to 2227929 Ontario Inc. (“222”), a company controlled by Fred Leigh, a director and the chief executive officer of the Company, at a deemed price per share of approximately $0.05 in payment of approximately $696,234 owed by the Company to 222.
THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
SUBSCRIBE TO UNLOCK MORE ARTICLES
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
REGISTER / SIGN IN TO UNLOCK MORE ARTICLES
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account.
- Share your thoughts and join the conversation in the comments.
- Enjoy additional articles per month.
- Get email updates from your favourite authors.
THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account
- Share your thoughts and join the conversation in the comments
- Enjoy additional articles per month
- Get email updates from your favourite authors
Sign In or Create an Account
or
Article content
Article content
Prior to 222’s acquisition of the 12,000,000 shares, 222 did not own any FMR securities; however, Fred Leigh directly owned 6,500,000 common shares of the Company and 1,500,000 options entitling Mr. Leigh to acquire one additional common share, which at that time represented approximately 3.9% and 4.8% of FMR’s outstanding common shares on a non-diluted and partially-diluted basis, respectively. As a result of this transaction, and after completion of a 10:1 share consolidation by the Company effective September 5, 2025, Mr. Leigh now directly or indirectly (through 222) owns 1,850,000 common shares and 150,000 options, which represents approximately 11% and 11.9% of FMR’s outstanding common shares on a non-diluted and partially-diluted basis, respectively.
Article content
Article content
By signing up you consent to receive the above newsletter from Postmedia Network Inc.
Article content
Mr. Leigh caused 222 to acquire the shares to settle amounts owed to it by FMR to assist in strengthening FMR’s balance sheet to facilitate a transition from a listing on the Toronto Stock Exchange to the TSX Venture Exchange. Mr. Leigh and 222 may acquire additional securities of FMR in the future, may dispose of some or all of the securities, or may continue to hold their respective current positions.
Article content
For more information, or for a copy of the report filed under applicable securities laws by Mr. Fred Leigh in connection with the transactions referred to in this press release, please contact Mr. Fred Leigh at 416 861 2267.
Article content
Fred Leigh’s address is:
Article content
Frederic Leigh
198 Davenport Road
Toronto, Ontario
M5R 1J2
Article content
Article content
Article content
Article content
Article content
Article content
English (US)