Volatus Capital settles $536,528 debt with 7.15M shares

Executive Summary

• Volatus Capital Corp. entered into a shares‑for‑debt agreement to settle $536,528.06 of outstanding debt.
• The company will issue 7,153,707 common shares at a deemed price of $0.075 per share to the creditors.
• All issued securities are subject to a four‑month hold period; the transaction has been approved by the exchange and qualifies as an exempt related‑party transaction under MI 61‑101.

Key Details

• Debt Settlement Amount: $536,528.06 owed to multiple creditors.
• Shares Issued: 7,153,707 common shares.
• Deemed Share Price: $0.075 per share (aggregate gross value ≈ $536,528).
• Purpose: Preserve cash for working‑capital needs by settling debt with equity rather than cash.
• Hold Period: Four months and one day from the issuance date; securities may not be sold or transferred during this period.
• Exchange Approval: The transaction has been approved by the relevant stock exchange.
• Related‑Party Status: Some creditors are insiders; the deal is classified as a “related party transaction” under Multilateral Instrument 61‑101.
• Exemption Criteria: Neither the fair market value of the securities nor the consideration exceeds $2.5 million, so formal valuation and minority shareholder approval are not required.
• Material Change Reporting: No material change report filed >21 days before closing because transaction details were finalized shortly prior to execution; the company sought an expedited close for business reasons.

Notable Quotes

(No direct quotes provided in the release.)