Financings
Pepcap Resources creditors assign $389,960 debt
WAV · Price
Executive Summary
- Pepcap Resources Inc. has entered into a shares-for-debt agreement to settle $389,960 in owed debt by issuing 38,996,000 common shares.
- The debt was assigned through a chain of transactions: originally held by three creditors (Ng, Tran, Kwan), assigned to Clark Swanson, and finally assigned to Franziska Von Fischer.
- The transaction constitutes a change of control under TSX Venture Exchange policies and is subject to TSX-V acceptance and potential shareholder approval.
Key Details
- Debt Amount: $389,960 total debt settled.
- Original Creditors: Tim Man-Tin Ng, Sophie Tran, and Tek Sian Kwan.
- Assignment Chain:
- Creditors assigned claims to Clark Swanson.
- Clark Swanson assigned the full aggregate amount to Franziska Von Fischer.
- Settlement Terms:
- Issuance of 38,996,000 common shares.
- Deemed price of $0.01 per share.
- Agreement dated July 8, 2025.
- Regulatory Status:
- Constitutes a change of control under TSX Venture Exchange policies.
- Subject to TSX-V acceptance.
- Subject to disinterested shareholder approval if the issuance creates a new control person.
- Other Updates:
- Regarding preliminary negotiations with Blockmetrix LLC (announced May 22, 2025): Due diligence is continuing, and no agreement has been entered into yet.