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Mr. John McCleery reports
KEON ANNOUNCES SHARES-FOR-DEBT AGREEMENT
Keon Capital Inc. has entered into a shares-for-debt settlement agreement pursuant to which it has agreed to issue 121,194 common shares at 20.625 cents per share to settle a company debt in the amount of $24,996.46 owing to an arm's-length professional services provider. The issue price represents an approximate discount of 25 per cent to the company's last closing share price of 27.5 cents per share.
The debt settlement is subject to the acceptance of the TSX Venture Exchange. The company shares issued upon closing of the debt settlement will be subject to a statutory four-month hold period. There are no finders' fees or commissions payable in connection with the debt settlement transaction.
The company also announces that William Murray has resigned as a director of the company. Keon's management and board of directors thank Mr. Murray for his contributions to the company.
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