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.
For more information regarding the Transaction, please contact:
Chief Executive Officer
CleanGo Innovations Inc.
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