Universal Digital Inc. Announces Debt Settlement

• On March 25, 2026, Universal Digital Inc. announced a debt settlement agreement to extinguish C$29,933.75 of outstanding indebtedness.
• The company will issue 332,597 common shares at a deemed price of C$0.09 per share to an arm’s-length creditor.
• The issuance is subject to Canadian Securities Exchange (CSE) acceptance and carries a standard four-month-and-one-day statutory hold period.
• Management states the transaction will improve the balance sheet and capital structure upon completion.
• This follows a clear historical pattern: in September 2025, the company settled $200,400 of debt via 334,000 shares at $0.60, and in January 2026, it extinguished a $3.3 million convertible debenture facility, replacing it with a $300,000 non-convertible promissory note.

• The financial impact is negligible. Removing ~C$30k in liabilities while issuing ~332k shares represents approximately 0.4% dilution against the ~75.6 million shares outstanding.
• No new cash enters the company. The transaction is purely an accounting cleanup to preserve working capital.
• The news is fully in line with previous expectations. The company has consistently used equity issuance to manage payables and avoid cash outflows, a standard survival tactic for cash-constrained micro-caps.
• There is no operational catalyst, revenue acceleration, or strategic shift embedded in this release.

• Universal Digital Inc. (formerly Minas Metals Ltd.) pivoted from mineral exploration to a digital asset treasury and technology model.
• Flagship initiatives include a Bitcoin treasury strategy, ownership of Geometric Galaxy Ltd. (operator of the BullWave crypto-analytics SaaS platform), and a strategic equity stake in ReYuu Japan Inc. (TSE: 9425).
• The company has pursued partnerships with Crypto.com for institutional custody/OTC trading and House of Doge for Japan-focused Dogecoin ecosystem exploration.
• Despite the strategic pivot, the company lacks a clear, scalable revenue engine. Reported net income is heavily driven by unrealized gains on digital assets and equity investments, not core operations.