LEXI Announces Transactions to Create New Credit Facility, Complete Private Placement, Contract for New Technology, and Settle Certain Debts and Claims
Noted Steven Howard, LEXI's CEO, "Closing these Transactions opens a bright, new future for LEXI.
- Noted Steven Howard, LEXI's CEO, "Closing these Transactions opens a bright, new future for LEXI.
- These Transactions both clear the slate and breath a new momentum into LEXI and the valuation of its assets.
- Arena and LEXI have entered into a settlement agreement (the "Settlement Agreement") pursuant to which the parties have agreed to settle all amounts owing to Arena by LEXI ("Arena Debt Settlement").
- The Company intends to seek the requisite shareholder approvals for the Transactions at an upcoming shareholders meeting in March 2023.