Axcap Ventures (OTCID:GARLF) has navigated an extension for its milestone payment obligation with Waterton Nevada Splitter LLC, CNBC has learned. Originally slated for July 15, 2025, the payment deadline is now set for September 30, 2025.
In exchange for this breathing room, Axcap has issued 1,550,000 common shares to Waterton. These shares come with a four-month-and-one-day lock-up period from the issuance date. The amendment modifies the original milestone payment rights agreement, inked on July 15, 2024, between Converse Acquisition Company, Limited and Waterton.
Axcap Ventures (OTCID:GARLF) ha concordato con successo un’estensione della scadenza relativa al suo obbligo di pagamento legato al raggiungimento di milestone con Waterton Nevada Splitter LLC. Il pagamento, originariamente previsto per il 15 luglio 2025, è stato prorogato al 30 settembre 2025.
In cambio di tale estensione, Axcap ha emesso 1.550.000 azioni ordinarie a Waterton. Tali azioni sono soggette a un periodo di blocco di quattro mesi e un giorno dalla data di emissione. L’accordo di proroga modifica l’accordo originale sui diritti di pagamento per milestone del 15 luglio 2024 tra Converse Acquisition Company, Limited e Waterton.
Axcap Ventures (OTCID:GARLF) ha negociado con éxito una prórroga del plazo de su obligación de pago por hitos con Waterton Nevada Splitter LLC. El pago, inicialmente fijado para el 15 de julio de 2025, se ha extendido hasta el 30 de septiembre de 2025.
Como contraprestación por esta prórroga, Axcap ha emitido 1.550.000 acciones ordinarias a favor de Waterton. Estas acciones estarán sujetas a un período de retención de cuatro meses y un día a partir de su fecha de emisión. El acuerdo de extensión modifica el acuerdo original de derechos de pago por hitos, con fecha del 15 de julio de 2024, entre Converse Acquisition Company, Limited y Waterton.
Axcap Ventures (OTCID:GARLF)는 Waterton Nevada Splitter LLC와의 마일스톤 지급 의무에 대한 지급기한 연장을 성공적으로 합의했습니다. 당초 2025년 7월 15일로 예정된 지급일은 2025년 9월 30일로 연장되었습니다.
이 연장의 대가로 Axcap는 Waterton에 1,550,000주의 보통주를 발행했습니다. 이 주식들은 발행일로부터 4개월 1일의 보호(록업) 기간이 적용됩니다. 이번 연장 합의는 2024년 7월 15일자 Converse Acquisition Company, Limited와 Waterton 간의 기존 마일스톤 지급권 계약을 수정합니다.
Axcap Ventures (OTCID:GARLF) a négocié avec succès une prolongation du délai de son obligation de paiement liée à des jalons avec Waterton Nevada Splitter LLC. Le paiement, initialement dû le 15 juillet 2025, est reporté au 30 septembre 2025.
En contrepartie de cette prolongation, Axcap a émis 1 550 000 actions ordinaires en faveur de Waterton. Ces actions sont soumises à une période de blocage de quatre mois et un jour à compter de leur date d’émission. L’accord de prolongation modifie l’accord initial relatif aux droits de paiement par jalons daté du 15 juillet 2024 entre Converse Acquisition Company, Limited et Waterton.
Axcap Ventures (OTCID:GARLF) hat eine Verlängerung der Frist für seine Meilenstein-Zahlungsverpflichtung mit Waterton Nevada Splitter LLC erfolgreich ausgehandelt. Die ursprünglich am 15. Juli 2025 fällige Zahlung wurde auf den 30. September 2025 verschoben.
Als Gegenleistung für diese Verlängerung hat Axcap Waterton 1.550.000 Stammaktien ausgegeben. Diese Aktien unterliegen ab dem Ausgabedatum einer Sperrfrist von vier Monaten und einem Tag. Die Verlängerungsvereinbarung ändert die ursprüngliche Vereinbarung über Meilenstein-Zahlungsrechte vom 15. Juli 2024 zwischen Converse Acquisition Company, Limited und Waterton.
Potential Downsides
- Dilution Alert: Existing shareholders face dilution with the issuance of 1,550,000 new shares.
- Cash Flow Watch: The delayed payment could signal potential headwinds regarding Axcap’s cash flow situation.
08/12/2025 – 07:45 PM
VANCOUVER, BC / ACCESS Newswire / August 12, 2025 / AXCAP VENTURES INC. (“Axcap” or the “Company”) (CSE:AXCP)(OTCID:GARLF) has announced an agreement with Waterton Nevada Splitter LLC (“Waterton”) to extend the milestone payment deadline from July 15, 2025, to September 30, 2025. This extension is pursuant to the milestone payment rights agreement dated July 15, 2024, between Converse Acquisition Company, Limited, and Waterton. In exchange for the extension, Axcap has issued 1,550,000 common shares (the “Shares”) to Waterton, subject to a four-month-and-a-day hold period from the issuance date.
About Axcap Ventures Inc.:
Axcap Ventures focuses on consolidating undervalued resources, primarily in the USA and Canada, which it believes are under-exploited due to drilling limitations rather than geological constraints. The company aims to build a portfolio of development-ready gold resources, taking advantage of the next upward cycle in the gold market. Axcap intends to raise capital and expand these overlooked orebodies, especially when conventional single-asset explorers face market access challenges.
For more information, please visit our website at www.axcapventures.ca
On behalf of the Board of Directors,
“Mario Vetro”
Mario Vetro,
Co-Founder & Director
Cautionary Statement Regarding “Forward-Looking” Information
This press release contains forward-looking statements. These statements, other than statements of historical facts, address events or developments that the Company expects to occur and are generally identified by terms like “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential,” and similar expressions. These statements are not guarantees of future performance, and actual results may differ materially due to various factors, including market prices, capital availability, financing, and overall economic conditions. Investors should be aware that such statements are not guarantees and that actual outcomes may vary significantly from those projected. These forward-looking statements reflect the beliefs, estimates, and opinions of the Company’s management as of the date of this release. The Company undertakes no obligation to update these statements should these beliefs, estimates, or opinions change, except as required by applicable securities laws.
SOURCE: AXCAP VENTURES INC.
View the original press release on ACCESS Newswire
FAQ
What is the new milestone payment deadline for Axcap Ventures (GARLF)?
The milestone payment deadline has been extended from July 15, 2025 to September 30, 2025.
How many shares did Axcap Ventures issue to Waterton for the payment extension?
Axcap Ventures issued 1,550,000 common shares to Waterton as consideration for the payment extension.
What is the hold period for the newly issued Axcap Ventures shares?
The shares are subject to a hold period of four months and one day from the date of issuance.
When was the original milestone payment rights agreement between Waterton and Converse Acquisition Company signed?
The original milestone payment rights agreement was dated July 15, 2024.
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