Debt settlement

Greenidge Generation Reports Fourth Quarter and Full Year 2022

Retrieved on: 
Friday, March 31, 2023

FAIRFIELD, Conn., March 31, 2023 /PRNewswire/ -- Greenidge Generation Holdings Inc. (NASDAQ: GREE) ("Greenidge" or the "Company"), a vertically integrated cryptocurrency datacenter and power generation company, today announced financial and operating results for the fourth quarter and fiscal year ended December 31, 2022 and provided an update on actions the Company has taken to date to improve liquidity during the first quarter of 2023.

Key Points: 
  • "Our results for the fourth quarter of 2022 are consistent with the estimates we released in January," said Dave Anderson, Chief Executive Officer of Greenidge.
  • Greenidge produced 683 bitcoins during the fourth quarter, compared to 609 bitcoins in the fourth quarter of the prior year.
  • Net loss from continuing operations was $135.0 million for the fourth quarter as compared to a net income from continuing operations of $3.3 million in the fourth quarter of the prior year.
  • Adjusted EBITDA loss for the fourth quarter was $4.9 million compared to the prior year fourth quarter Adjusted EBITDA of $18.2 million.

Nevada Lithium and Iconic Minerals Enter into Arrangement Agreement to Consolidate 100% Ownership Interest In the Bonnie Claire Lithium Property, Nevada

Retrieved on: 
Monday, March 27, 2023

After the closing of the Arrangement, Nevada Lithium will hold a 100% interest in the Project.

Key Points: 
  • After the closing of the Arrangement, Nevada Lithium will hold a 100% interest in the Project.
  • Stephen Rentschler, Nevada Lithium's CEO, commented, "We are pleased to announce the signing of the Arrangement Agreement with Iconic for the Bonnie Claire Project.
  • The Arrangement Agreement also provides for a payment of a termination fee of $500,000 payable by Iconic or Nevada Lithium to the other in certain circumstances.
  • Upon completion of the Arrangement, each Nevada Lithium FinCo Share and each Nevada Lithium FinCo Warrant will be exchanged on a one-for-one basis for, respectively, Nevada Lithium Shares and Nevada Lithium Warrants.

Bee Vectoring Technologies Closes Non-Brokered Private Placement and Debt Settlement

Retrieved on: 
Monday, March 6, 2023

Mississauga, Ontario and Sacramento, California--(Newsfile Corp. - March 6, 2023) - Bee Vectoring Technologies International Inc. (CSE: BEE) (OTCQB: BEVVF) (CVE: BEE) (the "Company" or "BVT") is pleased to announce that it has closed a non-brokered private placement of 1,491,667 units (the "Units") issued at a price of $0.12 per Unit for gross aggregate proceeds of $179,000 (the "Private Placement").

Key Points: 
  • Mississauga, Ontario and Sacramento, California--(Newsfile Corp. - March 6, 2023) - Bee Vectoring Technologies International Inc. (CSE: BEE) (OTCQB: BEVVF) (CVE: BEE) (the "Company" or "BVT") is pleased to announce that it has closed a non-brokered private placement of 1,491,667 units (the "Units") issued at a price of $0.12 per Unit for gross aggregate proceeds of $179,000 (the "Private Placement").
  • The Company paid $840.00 in cash and issued 7,000 Warrants on the same terms noted above to qualified parties in connection with the Private Placement.
  • The Company also announces that it has entered into a debt settlement agreement (the "Settlement Agreement") to settle an outstanding cash payment owed to an arm's length creditor in the amount of $157,180 for consulting fees (the "Debt Settlement").
  • All securities issued pursuant to the Private Placement and Debt Settlement are subject to a statutory hold period that will expire on July 7, 2023, in accordance with applicable securities laws.

InspireSemi Announces Short-Term Loan of Up-To US$1 Million and Other Updates

Retrieved on: 
Tuesday, March 7, 2023

The Company may take drawdowns under the Loan Agreement at any time during the term of the Loan Agreement at its discretion.

Key Points: 
  • The Company may take drawdowns under the Loan Agreement at any time during the term of the Loan Agreement at its discretion.
  • Borrowings under the Loan Agreement shall bear no interest for the first 6 months from the date execution of the Loan Agreement, and shall bear interest at a rate of 9%, per annum thereafter.
  • The proceeds from the Loan will be used to support the Company’s go-forward strategy and general working capital needs.
  • A material change report will be filed less than 21 days before the execution of the Loan Agreement.

Mydecine Announces Debt Settlements

Retrieved on: 
Monday, March 6, 2023

DENVER, March 06, 2023 (GLOBE NEWSWIRE) -- Mydecine Innovations Group Inc. (“Mydecine” or the “Company”) (NEO:MYCO) (OTC:MYCOF) (FSE:0NFA) a biotechnology company engineering the next wave of innovative medications and treatment protocols to directly address mental health with a particular emphasis on addiction and PTSD, is pleased to announce share for debt settlements (the “Debt Settlements”) for debt owed to certain arms-length creditors, service providers and debtors of the Company (collectively, the “Creditors”).

Key Points: 
  • DENVER, March 06, 2023 (GLOBE NEWSWIRE) -- Mydecine Innovations Group Inc. (“Mydecine” or the “Company”) (NEO:MYCO) (OTC:MYCOF) (FSE:0NFA) a biotechnology company engineering the next wave of innovative medications and treatment protocols to directly address mental health with a particular emphasis on addiction and PTSD, is pleased to announce share for debt settlements (the “Debt Settlements”) for debt owed to certain arms-length creditors, service providers and debtors of the Company (collectively, the “Creditors”).
  • Pursuant to the debt settlement agreements entered into between the Company and each of the Creditors, the Debt will be converted into common shares (the “Settlement Shares”) in the capital of the Company.
  • The Debt Settlements were undertaken by the Company to eliminate approximately $752,160 of liabilities.
  • No new insiders or control persons were created as a result of the Debt Settlement.

Koios Provides Corporate Update

Retrieved on: 
Monday, February 27, 2023

DENVER and VANCOUVER, British Columbia, Feb. 27, 2023 (GLOBE NEWSWIRE) -- Koios Beverage Corp. (CSE: FIT) (OTC: FITSF) (the “Company” or “Koios”) announces that pursuant to its shareholder approved stock option plan (the “Stock Option Plan”), it has granted an aggregate of 6,300,000 stock options to certain directors, employees and consultants (the “Eligible Parties”) of the Company. The stock options are exercisable to acquire up to 6,300,000 common shares (each a “Share”) of the Company at an exercise price of $0.05 per Share for a period of 5 years from issuance. The stock options vest upon issuance.

Key Points: 
  • Pursuant to the Company’s shareholder approved restricted share unit plan (the “RSU Plan”), it has granted an aggregate of 2,000,000 restricted share units (“RSUs”) to Eligible Parties of the Company.
  • The RSUs vest four months and a day from issuance.
  • Pursuant to the Debt Settlement, the Company issued 9,129,665 Shares at a deemed price of $0.05 per Share to the creditors of the Company.
  • Pursuant to the Debt Settlement, a total of $345,753.39 of the Debt Settlement was settled with directors and officers of the Company.

Black Swan Graphene Provides Corporate Updates, Including Approval of Omnibus Equity Incentive Plan, Grant of Stock Options and Restricted Share Units, Debt Settlement at $0.21 per Share and Market Making and Investor Awareness Agreements

Retrieved on: 
Friday, February 17, 2023

Shareholders also approved the Company's Omnibus Equity Incentive Plan and the grant of 15,175,000 stock options and 7,875,000 restricted share units ("RSUs") under the Omnibus Equity Incentive Plan to the directors and officers of the Company.

Key Points: 
  • Shareholders also approved the Company's Omnibus Equity Incentive Plan and the grant of 15,175,000 stock options and 7,875,000 restricted share units ("RSUs") under the Omnibus Equity Incentive Plan to the directors and officers of the Company.
  • The Company has just filed its Omnibus Equity Plan with the TSXV for approval.
  • As Canada's foremost market making firm, ITG provides market making and liquidity provider services that are objective and focused.
  • MIC has not provided any services under this arrangement to date, however the Company expects to activate a market awareness program shortly.

Greenidge Generation Restructures and Significantly Reduces Secured Debt

Retrieved on: 
Tuesday, January 31, 2023

"The debt restructuring we've announced today significantly improves our balance sheet and provides us with a clear path forward as we enter 2023," said Dave Anderson, Chief Executive Officer of Greenidge.

Key Points: 
  • "The debt restructuring we've announced today significantly improves our balance sheet and provides us with a clear path forward as we enter 2023," said Dave Anderson, Chief Executive Officer of Greenidge.
  • These agreements have effectively reduced our secured debt balances with these lenders from approximately $87 million to approximately $26 million and have the strong potential to allow us to further reduce our debt.
  • "I want to congratulate the management team and Atlas for successfully restructuring the balance sheet and operations of Greenidge to benefit all stakeholders.
  • The transfer of these assets reduced the principal and accrued interest balance of the secured debt with NYDIG from approximately $76 million to approximately $17 million, for an aggregate debt reduction of approximately $59 million.

Arctic Fox Announces Debt Settlement Transaction

Retrieved on: 
Tuesday, February 7, 2023

VANCOUVER, British Columbia, Feb. 07, 2023 (GLOBE NEWSWIRE) -- Arctic Fox Minerals Corp. (CSE: FOXY) (the “Company” or “Arctic Fox”) announces that its board of directors has approved the settlement of an aggregate amount of $255,000 in debt for services of arms-length parties through the issuance of common shares (the “Shares”) of the Company (the “Debt Settlement”).

Key Points: 
  • VANCOUVER, British Columbia, Feb. 07, 2023 (GLOBE NEWSWIRE) -- Arctic Fox Minerals Corp. (CSE: FOXY) (the “Company” or “Arctic Fox”) announces that its board of directors has approved the settlement of an aggregate amount of $255,000 in debt for services of arms-length parties through the issuance of common shares (the “Shares”) of the Company (the “Debt Settlement”).
  • Pursuant to the Debt Settlement, the Company issued an aggregate of 5,100,000 Shares at a deemed price of $0.05 per Share.
  • The Company also announces the issuance of 1,000,000 Shares, at a deemed price of $0.05 per Share, to the Company’s former Chief Executive Officer (the “former CEO”), pursuant to an employment agreement dated September 13, 2022 between the Company and its Former CEO.
  • All securities issued will be subject to a statutory hold period which will expire on the date that is four months and one day from the date of issuance.

CANADA CARBON INC. COMPLETES SHARES FOR DEBT TRANSACTION

Retrieved on: 
Monday, January 30, 2023

Further to its press release dated January 17, 2023, Canada Carbon Inc. (the "Company") announces that it has received TSXV approval for an agreement to extinguish an aggregate of $200,000 in debt owing to former Chief Financial Officer and Chief Executive Officer, Olga Nikitovic.

Key Points: 
  • Further to its press release dated January 17, 2023, Canada Carbon Inc. (the "Company") announces that it has received TSXV approval for an agreement to extinguish an aggregate of $200,000 in debt owing to former Chief Financial Officer and Chief Executive Officer, Olga Nikitovic.
  • The debt was extinguished in consideration for the issuance of an aggregate of 3,333,333 common shares in the capital of the Company (the “Common Shares”) at a deemed price of $0.06 per share (the “Debt Settlement”).
  • The Common Shares issued pursuant to the Debt Settlement will be subject to a statutory four month and one day hold period expiring on May 25th, 2023.
  • This press release contains statements that constitute “forward-looking information” (“forward-looking information”) within the meaning of the applicable Canadian securities legislation.