Mr. Ralph Garcea reports
TURNIUM TECHNOLOGY GROUP ANNOUNCES CLOSING OF SHARES-FOR-DEBT TRANSACTION
Turnium Technology Group Inc., further to the company's news release dated March 17, 2026, has completed its previously announced shares-for-debt settlement. Pursuant to the debt settlement, the company has issued 5,163,750 of the company's common shares at a deemed price of 10 cents per share. The shares for debt represent the full and final settlement of outstanding indebtedness in the amount of $516,375.
The shares-for-debt transactions are being undertaken by the company in order to preserve cash and strengthen its balance sheet. The shares issued pursuant to the shares-for-debt transactions will be subject to a statutory hold period of four months and one day from the date of issuance in accordance with applicable securities laws and TSX Venture Exchange policies.
The debt settlement will be a "related party transaction" under Policy 5.9 of the TSX Venture Exchange and Multilateral Instrument 61-101. The debt settlement to insiders and former insiders in the amount of $464,375, resulting in 4,643,750 common shares being issued to insiders, received disinterested shareholder approval on March 13, 2026, at the company's annual shareholder meeting, and approval from the TSX-V on April 21, 2026.
About Turnium Technology Group Inc.
TTGI acquires companies that complement its technology-as-a-service (TaaS) strategy, integrates them to generate efficiencies and delivers their solutions through a global partner-led program to customers worldwide. TTGI's mission is to provide IT providers with a complete, white-labelled portfolio of business technology solutions, enabling them to quickly add new services in response to customer demand.
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