BioNxt Announces Closing of Shares for Debt Settlement

Executive Summary

• BioNxt Solutions Inc. issued 6,008,883 common shares at a deemed price of $0.45 per share to settle $2.704 million of debt owed to arm’s‑length creditors.
• The settlement also included issuance of 300,444 “Compensation Shares” to Canaccord Genuity Corp. at a deemed price of $0.63 per share as compensation for facilitating the transaction.
• All issued shares are subject to a statutory hold period of four months and one day under Canadian securities laws.

Key Details

• Debt Settlement: 6,008,883 common “Debt Shares” issued @ $0.45/share → total equity consideration of ≈ $2.704 M used to retire debt.
• Debt Composition: Principal $2,600,000 plus accrued interest $104,000 from 8% convertible debentures dated December 7 2022.
• Compensation to Advisor: 300,444 common “Compensation Shares” issued @ $0.63/share to Canaccord Genuity Corp. for transaction facilitation.
• Hold Period: Both Debt Shares and Compensation Shares subject to a statutory four‑month‑plus‑one‑day hold period per Canadian securities regulations.
• Share Issuance Mechanics: Shares issued on a “deemed price” basis; no cash consideration exchanged beyond the equity issuance.

Notable Quotes

(No executive quotes were included in the release.)