#TPAC !! TRANS-PACIFIC AEROSPACE Announces Success
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Posted On: 03/08/2018 11:30:15 AM
#TPAC !! TRANS-PACIFIC AEROSPACE Announces Successful Negotiation of Debt Structure to Defer Payment Due Dates until July, 2018.
NEWS PROVIDED BY
Trans-Pacific Aerospace Company, Inc.
Feb 20, 2018, 08:45 ET
SAN MARINO, Calif., Feb. 20, 2018 /PRNewswire/ -- Trans-Pacific Aerospace (TPAC) (OTC: TPAC) announces the successful conclusion of negotiations aimed at deferring the due date for all convertible debt until July 2018. No outstanding obligations of the Company are now due prior to July 2018.
Bill McKay, CEO of TPAC stated: "We are very pleased to have been able to work with our lenders in order to defer the due dates for these obligations. We are hopeful and optimistic that TPAC will be in a position during the next few months to be able to repay these obligations through money raised in our ICO, rather than have the obligations convert into shares, thus creating a dilution of the stock. This deferral is part of our strategy to reduce and bring the share structure under greater control through loan repayment and share repurchase."
NEWS PROVIDED BY
Trans-Pacific Aerospace Company, Inc.
Feb 20, 2018, 08:45 ET
SAN MARINO, Calif., Feb. 20, 2018 /PRNewswire/ -- Trans-Pacific Aerospace (TPAC) (OTC: TPAC) announces the successful conclusion of negotiations aimed at deferring the due date for all convertible debt until July 2018. No outstanding obligations of the Company are now due prior to July 2018.
Bill McKay, CEO of TPAC stated: "We are very pleased to have been able to work with our lenders in order to defer the due dates for these obligations. We are hopeful and optimistic that TPAC will be in a position during the next few months to be able to repay these obligations through money raised in our ICO, rather than have the obligations convert into shares, thus creating a dilution of the stock. This deferral is part of our strategy to reduce and bring the share structure under greater control through loan repayment and share repurchase."
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