RE:RE:RE:RE:RE:C:THRM Therma Bright 866,664 shares for debtYou are right on the previous announcement, but not on the approved filling. And it won't change anything actually.
https://www.theglobeandmail.com/investing/markets/stocks/THRM-X/pressreleases/960135/
Newsfile Corp - Fri Jan 15, 5:33AM CST
Therma Bright also announces that it has negotiated debt settlements with arm's length and non-arm's length creditors. Pursuant to the debt settlement agreements, and subject to acceptance by the TSX Venture Exchange, the Company has agreed to settle aggregate outstanding debt of $260,000 in consideration for which it will issue an aggregate of 866,664 common shares at a deemed price of $0.30 per share. Certain Insiders of the Company participated in the debt settlements (Joe Heng, Tim Peterson and Spencer Sungbum Huh, each a director of the Company, agreed to settle $20,000 debt owed to each of them for 66,666 shares each; and Victor Hugo, the Company's CFO, agreed to settle $10,000 debt for 33,333 shares). Participation by Insiders in the debt settlements is considered a "related party transaction" pursuant to MI 61-101. The Company is exempt from the requirements to obtain a formal valuation and minority shareholder approval in connection with the Insiders' participation in the debt settlements in reliance of sections 5.5(a) and 5.7(a) of MI 61-101, respectively, on the basis that participation in the debt settlements by the Insiders did not exceed 25% of the fair market value of the Company's market capitalization. All shares issued in relation to these debt settlements are subject to a hold period expiring four months + one day after the date the shares are issued, in accordance with applicable securities laws and the policies of the TSX Venture Exchange.