Mr. Kristian Thorlund reports
FUTUREGEN INDUSTRIES ANNOUNCES CLOSING OF DEBT SETTLEMENT
Futuregen Industries Corp. (formerly Right Season Investments Corp.) has closed its previously announced debt settlement agreement with a director of the company dated March 9, 2026. Pursuant to the settlement agreement, the company has issued to the creditor 100,800 common shares of the company at a deemed price of 25 cents per share in settlement of $25,200 of outstanding indebtedness. Pursuant to applicable securities laws, all securities issued pursuant to settlement are subject to a hold period of four months and one day, expiring July 27, 2026.
The issuance of 100,800 shares to Constantine Carmichel, in full settlement of $25,200 is considered a related party transactions within the meaning of Multilateral Instrument 61-101, Protection of Minority Security Holdings in Special Transactions. The company relied on exemptions from the formal valuation and minority approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101, as neither the fair market value of the shares, nor the consideration paid for the shares, exceeded 25 per cent of the company's market capitalization.
The company did not file a material change report more than 21 days before the closing of the settlement because the details were not settled until shortly prior to closing and the company wished to complete the settlement on an expedited basis for business reasons.
About Futuregen Industries Corp.
Futuregen Industries is a Canadian venture capital, investment and advisory firm that strives to actively drive innovation and accelerate growth for its shareholders. Futuregen invests capital into private and public companies that offer excellent growth opportunities.
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