05:17:39 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Arev Nanotec Brands Inc
Symbol AREV
Shares Issued 16,957,807
Close 2020-07-10 C$ 0.10
Market Cap C$ 1,695,781
Recent Sedar Documents

Arev settles $100,000 of debt by issuing shares

2020-07-13 14:27 ET - News Release

Mr. Mike Withrow reports

AREV NANOTEC BRANDS INC. ISSUES SHARES FOR DEBT

Arev Nanotec Brands Inc. has settled $100,000 in debt with Michael Withrow by the issuance of one million shares at 10 cents. This transaction would reduce the amount of debt owed to Mr. Withrow and/or entities controlled by Mr. Withrow by $100,000 and leave an outstanding balance of $331,373.85 owing.

Participation of the insiders of the company in the shares for debt constitutes a related party transaction as defined under Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions. Because the company's shares trade only on the Canadian Securities Exchange, the issuance of securities is exempt from the formal valuation requirements of Section 5.4 of MI 61-101 pursuant to Subsection 5.5(b) of MI 61-101 and exempt from the minority approval requirements of Section 5.6 of MI 61-101 under 5.7(b).

About Arev Nanotec Brands Inc.

Arev produces and sells functional ingredients produced by its proprietary extraction systems.

We seek Safe Harbor.

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