NewsI'm pretty sure this was missed completely. It's not posted on SH news. 2024-06-13 08:58 ET - News Release
Mr. Andrew Skafel reports
EDGEWATER WIRELESS ANNOUNCES COMPLETION OF SIXTH PAYMENT OF DEBENTURE INTEREST
Edgewater Wireless Systems Inc. has settled its obligation to pay an aggregate of $17,850.96 in interest as of March 1, 2024, to the holders of its unsecured debentures issued Sept. 1, 2022, through the issuance of an aggregate of 357,016 common shares of the company at a deemed price of five cents per share. The shares are issued in full satisfaction of the March 1, 2024, interest payment obligation in accordance with the terms of the debentures. The debt settlement has been approved by the TSX Venture Exchange.
Certain directors of the company received an aggregate of 68,810 shares and, therefore, the share issuance constitutes a related-party transaction as that term is defined in Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions. The company will rely on the exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101, as neither the fair market value of the shares nor the debt exceeds 25 per cent of the company's market capitalization.