Original News Release
Aether Global to issue 2.55 million shares for debt
Mr. Richard Unrau reports
AETHER ANNOUNCES DEBT SETTLEMENT
Aether Global Innovations Corp. has entered into, and continues to negotiate, debt settlement agreements with certain creditors. Pursuant to the proposed debt settlement, the company has agreed, subject to final execution of the remaining agreements, to issue an aggregate of approximately 2.55 million common shares at a deemed price of 24 cents per share to settle outstanding indebtedness of approximately $612,000.
The company intends to satisfy the outstanding indebtedness through the issuance of shares in order to preserve its cash resources for ongoing operations and strategic initiatives. The final number of shares to be issued and the total debt settled will be determined upon completion of negotiations with the remaining creditors.
All securities to be issued in connection with the debt settlement will be subject to a statutory hold period of four months and one day from the date of issuance, in accordance with applicable Canadian securities laws.
Completion of the debt settlement remains subject to the execution of the remaining agreements and the receipt of all necessary regulatory approvals, including approval from the Canadian Securities Exchange.
About Aether Global Innovations Corp.
Aether is an innovative UAV (unmanned aerial vehicle) drone management and operations services company that focuses on three areas for critical infrastructure and large public and private facilities: (i) drone management and surveillance monitoring; (ii) automation and integration for flight planning, new, innovative sensor payloads and stand-alone power sources; and (iii) drone base station infrastructure and technology for autonomous self-landing, power charging and takeoff.
We seek Safe Harbor.
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