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Financings

Grounded People Announces Closing of Debt Settlement

By The Northwire Desk — AI Analysis Mar 09, 2026 · 17:00 SHOE · 0.15 Grounded People Apparel Inc.
SHOE · Price

Executive Summary

  • Grounded People Apparel Inc. completed its previously announced debt settlement by issuing 4,500,000 common shares at a deemed price of $0.10 per share.
  • The issuance fully settles $450,000 of outstanding indebtedness.
  • All shares issued are subject to a hold period of four months and one day under securities law.

Key Details

  • Shares Issued: 4,500,000 common shares.
  • Deemed Share Price: $0.10 per share.
  • Total Consideration: $450,000 (aggregate amount of debt settled).
  • Hold Period: Shares subject to a lock‑up of four months and one day pursuant to applicable securities regulations.
  • Previous Announcement: Referenced prior release dated March 2, 2026 announcing the planned settlement.

Notable Quotes

  • “On behalf of the Board of Directors,” – Maximilian Justus, Chief Executive Officer.
Read the original news release →

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Production / Operations