Navy Resources Corp. (TSX-V: NVY) (the “Company”) is pleased to announce that it is has increased the debt settlement where the Company has now received acceptances from certain creditors and proposes to issue up to 2,480,800 common shares at a price of $0.10 per share to retire promissory notes and interest owing on promissory notes with an aggregate value of $248,080. This settlement will cover all of the Company’s debt and allow the Company to preserve its cash for general corporate purposes and to fund the investigation of other potential acquisitions. The debt settlement is subject to compliance with applicable securities laws, subject to receipt of regulatory approval and will not result in any new control persons.
On behalf of the Board of Directors,
CFO and Director
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.