TSXV:RTI.H - Post Discussion
Post by
Humanist on Dec 21, 2020 8:54pm
Radient Technologies Announces Shares for Debt Arrangements
Radient Technologies Announces Shares for Debt Arrangements by @newsfile on 21 Dec 2020, 19:31 Edmonton, Alberta--(Newsfile Corp. - December 21, 2020) - Radient Technologies Inc. (TSXV: RTI) (OTCQX: RDDTF) ("Radient" or the "Company"), a global commercial manufacturer of high quality cannabinoid-based ingredients, formulations and products, announces that it has entered into a series of shares for debt agreements with various of its creditors under the terms and conditions noted below.
The Company has issued 14,352,161 common shares to third-party creditors in exchange for the settlement of $1,435,216 owed by the Company to such creditors. The Radient shares issued under this agreement have a deemed value of $0.10 per share.
Additionally, the Company has issued 651,233 common shares to a director in exchange for the settlement of $65,123 owed by the Company to the individual. The Radient shares issued under these agreements have a deemed value of $0.10 per share.
Securities issued under the above arrangements are subject to a 4 month hold period and TSX Venture Exchange approval. Radient will be providing further updates to the markets as additional creditors have expressed interest to convert their outstanding debt to shares along similar lines.
About Radient
Be the first to comment on this post