The TSX Venture Exchange has accepted for filing the company's proposal to issue 21,697,636 shares to five arm's-length parties and to settle outstanding debt for $1,518,834.48 at a deemed price of seven cents per share. In addition, a further 10,347,494 shares will be issued to five non-arm's-length parties at a deemed price of seven cents to settle $724,324.57 of debt.
Number of creditors: 10 creditors
Total non-arm's-length-party involvement: $724,324.57, 10,347,494 shares at seven cents (five parties)
For more information, please refer to the company's news release on July 12, 2023.
The company shall issue a news release when the shares are issued and the debt extinguished.
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