TSXV:EPO.H - Post by User
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RetiringYoungon Sep 30, 2020 8:22pm
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Post# 31646596
NR out
NR outI don't like the optics of doing this at a 52 week low and not sure who the debt was owed to (says arms length) but it is what it is. SP now under .05
Sproutly to settle $69,300 debt with shares
2020-09-30 14:56 ET - News Release
Mr. Craig Loverock reports
SPROUTLY ANNOUNCES SHARES FOR DEBT TRANSACTION
Sproutly Canada Inc. will settle an aggregate of approximately $69,300 of indebtedness owed to one arm's-length creditor for past services rendered through the issuance of 1,386,000 common shares at a deemed issuance price of five cents per share. The company determined to satisfy the indebtedness with common shares in order to preserve its cash for working capital. The shares will be issued upon acceptance by the Canadian Securities Exchange and approval by the directors of the company. All common shares issued in satisfaction of the indebtedness will be subject to a four-month hold period from the date of issuance.