Izotropic to issue 240,000 units for note interest

Executive Summary

• Izotropic Corp. entered into a debt settlement agreement to extinguish $60,000 of accrued interest on its April 1 2022 promissory note.
• The interest will be settled by issuing 240,000 units at a deemed price of $0.25 per unit, each consisting of one common share and one warrant to purchase an additional share at $0.35 for five years.
• Issuance is subject to a statutory hold period of four months and one day and requires approval from the Canadian Securities Exchange.

Key Details

• Original promissory note principal: $2 million (dated April 1 2022).
• Accrued interest owed as of settlement date: $60,000, representing three months of interest (July‑September 2025).
• Settlement mechanism: issuance of 240,000 units at a deemed price of $0.25 per unit.
• Unit composition: 1 common share + 1 share purchase warrant.
• Warrant terms: right to acquire one additional share at $0.35 per share, exercisable for five years from issuance date.
• Securities to be issued will be subject to a statutory hold period of four months and one day under applicable securities laws.
• Completion of the settlement is conditional upon approval by the Canadian Securities Exchange.

Notable Quotes

(No direct quotes provided in the release.)