Mr. Patrick McGrath reports
TILTING CAPITAL CORP. ANNOUNCES APPOINTMENT OF DIRECTOR AND OFFICER, TERMINATION OF FINANCING, AND SHARES FOR DEBT TRANSACTION
Tilting Capital Corp. has appointed Patrick McGrath as a director of the company. Mr. McGrath has also accepted the officer positions of chief executive officer, chief financial officer and corporate secretary. Scott Hayduk has resigned as an officer of the company. In addition, Lee A. Pettigrew has resigned as a director of the company to pursue other opportunities.
As a result of the management and board changes, the shareholders meeting scheduled for Feb. 5, 2018, as announced in the Dec. 29, 2017, press release will not proceed.
Tilting has determined not to proceed with the proposed $500,000 financing and one-for-10 share consolidation announced on Dec. 27, 2017. Tilting will also not proceed with the proposed transaction announced on Dec. 6, 2017, with Salida Energy Inc. The company will request that its shares resume trading on the NEX board of the TSX Venture Exchange as soon as possible.
The company has agreed to settle $35,000 in debt with Mr. Hayduk by the issuance of 700,000 common shares of the company, subject to stock exchange approval.
The company will continue to evaluate opportunities to enhance shareholder value.
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