Mr. Vito Sanzone reports
ELEMENT ANNOUNCES DEBT SETTLEMENTS
Element Nutritional Sciences Inc. has entered into debt settlement agreements with an arm's-length service provider and a former director of the company, pursuant to which the company has agreed to settle an aggregate of $318,750 in outstanding debt in exchange for the issuance of 6,375,000 common shares of the company to the creditors. Completion of the debt settlements is subject to the company receiving all necessary regulatory approvals, including approval of the Canadian Securities Exchange. Any securities issued in connection with the debt settlements will be subject to a hold period of four months and one day.
About Element Nutritional Sciences Inc.
Element is an innovative and research-driven Canadian nutraceutical company specializing in the development of patented and science-based products for the global consumer packaged goods market, with a portfolio focused specifically on muscle health. Element's lead product, Rejuvenate, is a patented proprietary formulation that is clinically proven to assist in the building, rebuilding, restoration and rejuvenation of natural muscle mass. Element also offers Promino, an elite performance supplement for both professional and amateur athletes to accelerate muscle recovery, build strength and accelerate recovery from injury. Element was founded in 2015 and is located in Burlington, Ont.
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