Keon Capital to issue 1.34 million shares for debt

Executive Summary

• Keon Capital Inc. will settle $95,993.50 of outstanding debt by issuing 1,347,277 common shares at a deemed price of $0.07125 per share.
• The settlement includes $60,000 owed to Vessel Capital Corp. (related‑party service provider of CEO Nader Vatanchi) and $10,000 to an arm’s‑length consultant; the remaining $25,993.50 is owed to other operating‑expense creditors.
• Shares will be subject to a four‑month hold period pending approval from the NEX, and the related‑party transaction was approved by the board (with Mr. Vatanchi abstaining).

Key Details

• Total debt settled: $95,993.50.
• Shares to be issued: 1,347,277 common shares.
• Deemed share price: $0.07125 per share.
• Breakdown of debt components:
• $60,000 – owed to Vessel Capital Corp. for management services (Oct 2023‑Sep 2024).
• $10,000 – owed to an arm’s‑length consulting service provider.
• $25,993.50 – owed to other arm’s‑length parties for operating expenses.
• Hold period: Shares subject to a four‑month lock‑up in accordance with securities laws and NEX policies.
• Regulatory approval: Issuance contingent upon receipt of NEX approval.
• Related‑party status: Transaction qualifies as a related‑party transaction under MI 61‑101 but is exempt from formal valuation/minority shareholder approval because the fair market value does not exceed 25 % of Keon’s market capitalization.
• Board approval: Directors unanimously approved; CEO Nader Vatanchi abstained.

Notable Quotes

(No direct quotes were provided in the release.)