Mr. Am Gill reports
BIOSENTA ANNOUNCES CLOSING OF PREVIOUSLY ANNOUNCED TRANSACTION
Biosenta Inc. has entered into debt settlement agreements with certain creditors, pursuant to which the company agreed to settle an aggregate amount of $784,919 in outstanding debt in exchange for the issuance of 1,962,297 units at a price of 40 cents per unit, in accordance with the policies of the Canadian Securities Exchange.
Each unit consists of one common share of the company and one-half of one common share purchase warrants. Each warrant entitles the holder thereof to acquire, subject to adjustment in certain events, one common share at an exercise price of 80 cents for a period of 18 months from the transaction closing date.
The securities that were issued are subject to a four-month-plus-one-day hold period expiring June 22, 2024, as prescribed by applicable Canadian securities laws.
As a result of the issuance, there are 29,618,888 common shares of Biosenta issued and outstanding on a non-diluted basis.
The transaction does not otherwise affect Biosenta's day-to-day business and affairs.
Further details of the transaction can be found in Biosenta's press release dated Jan. 31, 2024, and the material change report in connection therewith filed on Jan. 31, 2024, each of which is available under Biosenta's profile on SEDAR+.
About Biosenta Inc.
Biosenta is a Canadian-based company that develops and manufactures a range of safe and environmentally sound chemical compounds for household and industrial applications.
© 2024 Canjex Publishing Ltd. All rights reserved.