CleanGo Innovations Inc Announces Debt Settlement With Certain Creditors


September 17, 2021 – The press wire – Calgary, AB – Cleango Innovations Inc. (formerly Softlab9 Technologies Inc.) announces that it has agreed with certain of its creditors to issue a total of 1,301,610 units (the “Unit”) to settle a total of $ 520,643 of outstanding debt. Each unit is made up of one ordinary share (“Debt share“) and half a warrant, each full warrant for one additional share at an exercise price of $ 0.75 for a period of 18 months. Units are issued at a deemed price of $ 0.40, in accordance with the policies of the Canadian Securities Exchange.

The Company did not file a material change report more than 21 days before the scheduled closing of shares for the debt transaction, as details and amounts of debts settled in the transaction were only finalized. approaching closing and the Company wished to close the transaction. as soon as possible, which the Company considers reasonable because it wishes to improve its financial situation by reducing its accrued liabilities as soon as possible. All Debt Shares issued in connection with the Debt Conversion will be subject to a four (4) month hold period.

Further information

For more information regarding the Transaction, please contact:

Anthony Sarvucci

Chief Executive Officer

CleanGo Innovations Inc.

[email protected]

Forward-looking information

This press release may contain forward-looking statements and forward-looking information (collectively, “forward-looking statements”) within the meaning of applicable Canadian and US securities laws. Forward-looking statements can often be identified by words such as “will”, “plans”, “expects”, “may”, “intends”, “anticipates”, “believes”, proposes “or variants of these words, including negative variants. of it and phrases that refer to certain actions, events or results that may, could, could, could or will occur or be undertaken or achieved. Actual results could differ from those projected in forward-looking statements due to many factors, including risks and uncertainties relating to general economic, market or business conditions or to changes in laws, regulations and policies affecting companies. Company operations. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, therefore, are cautioned not to place undue reliance on forward-looking statements because of the uncertainty inherent in such statements. All forward-looking statements included in this press release are made as of the date hereof and the Company does not intend to update or revise any forward-looking statements, except as expressly required by law.

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