DGTL Holdings to settle $187,213 debt with 12.4M shares DGTL HOLDINGS INC. REPORTS SHARES FOR DEBT TRANSACTION
DGTL Holdings Inc. has filed with the TSX Venture Exchange to complete a shares-for-debt transaction. Subject to final exchange approval, the company intends to settle $187,213 in debt to certain creditors, including accrued interest owed to converted debenture noteholders, by issuing 12,480,867 common shares. The deemed price of the new shares has been set at the market price (the last price of the common shares on the previous trading-day market close, as per TSX-V Policy 4.3). Creditors include a related party (John Belfontaine, chief executive officer and chairman), in which the company will issue 933,333 common shares to settle $14,000 in debenture interest accrued. Shares issued pursuant to the transaction will be subject to a mandatory hold period of four months and one day. Posttransaction, the total issued and outstanding common shares will be 76,465,971.