United Paragon Mining (PSE:UPM) completed the issuance of 3.2 billion common shares to Pargold Mining under its conversion program, according to a Friday Philippines Exchange filing.
The shares, with a par value of 0.01 Philippine peso each, were issued in exchange for UPMC's outstanding liabilities as outlined in a May 29 Deed of Assignment.
Following the deal, United Paragon Mining's Class A preferred shares were cancelled and converted into common shares.
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