Syntheia Announces Closing of Shares for Debt Transaction

Executive Summary

• Syntheia Corp. settled $590,768.28 of indebtedness by issuing 4,923,069 common shares at $0.12 per share.
• The issued shares are subject to a four‑month hold period and represent a related‑party transaction under MI 61‑101.
• The company relied on exemption provisions because the transaction does not exceed 25% of its market capitalization; no material change report was filed prior to closing.

Key Details

• Debt Settlement Amount: $590,768.28 paid to certain creditors.
• Shares Issued: 4,923,069 common shares at a price of $0.12 per share.
• Hold Period: Shares are subject to a four‑month lock‑up.
• Related Party Transaction: Insiders received the entire allotment; transaction qualifies as a “related party transaction” under MI 61‑101.
• Exemption Reliance: Company relied on sections 5.5(a) and 5.7(1)(a) of MI 61‑101 because fair market value and transaction size are each below the 25% threshold of market cap.
• Regulatory Filing: No material change report filed at least 21 days before closing; company deemed this reasonable.

Notable Quotes

(No direct quotes were provided in the release.)