Bionxt to settle $225,010 of debt with shares, cash

Executive Summary

• Bionxt Solutions Inc. has entered into a debt settlement agreement with an arm's-length creditor to resolve an aggregate debt of $225,010 for services previously provided.
• The settlement involves issuing 112,505 common shares at a deemed price of $1 per share and making a cash payment of $112,505 to the creditor.
• The transaction is subject to regulatory approvals, including approval from the Canadian Securities Exchange (CSE), and the issued shares are subject to a statutory hold period.

Key Details

• Total Debt Settled: $225,010
• Consideration Structure:
  • Equity Component: Issuance of 112,505 common shares.
  • Deemed Price: $1.00 per share.
  • Cash Component: $112,505 paid to the creditor.
• Counterparty: An arm's-length creditor.
• Purpose of Debt: Services provided to the company.
• Regulatory Conditions: Subject to receipt of all necessary regulatory approvals, specifically including approval from the Canadian Securities Exchange (CSE).
• Share Restrictions: The debt shares are subject to a statutory four-month-and-one-day hold period in accordance with Canadian Securities Exchange policies and applicable Canadian securities laws.

Notable Quotes

• None provided in the text.