NetworkNewsBreaks – FuelPositive Corporation (TS
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Posted On: 08/01/2023 4:58:04 PM
NetworkNewsBreaks – FuelPositive Corporation (TSX.V: NHHH) (OTCQB: NHHHF) Completes Debt Settlement, Strengthens Balance Sheet
FuelPositive (TSX.V: NHHH) (OTCQB: NHHHF), a leading green ammonia company, today announced completion of the previously disclosed settlement of $1,436,248 of outstanding indebtedness owing to certain arms-length parties and the issuance of 22,096,123 units, each at a price of $0.065. Each unit consists of one common share of FuelPositive and one common share purchase warrant (each, a “warrant”) entitling the holder to acquire an additional common share at a price $0.09 until July 28, 2026. In the event the volume-weighted average closing price of the company’s common shares on the TSX Venture Exchange exceeds $0.40 for ten consecutive trading days, FuelPositive retains the option to accelerate the expiry date of the warrants to thirty days after a public announcement of the election. In accordance with applicable laws, all securities issued in connection with the settlement are subject to restrictions on resale until Nov. 29, 2023. The company also reached agreements with certain additional arm’s-length creditors to settle further outstanding indebtedness totaling $344,361 as detailed in the announcement. “We would like to express our gratitude to the numerous suppliers and lenders who have actively participated in this conversion opportunity,” said Ian Clifford, CEO and board chair of FuelPositive. “Their support and collaboration have been instrumental in directing additional operating capital towards our commercialization endeavors and strengthening our balance sheet.”
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FuelPositive (TSX.V: NHHH) (OTCQB: NHHHF), a leading green ammonia company, today announced completion of the previously disclosed settlement of $1,436,248 of outstanding indebtedness owing to certain arms-length parties and the issuance of 22,096,123 units, each at a price of $0.065. Each unit consists of one common share of FuelPositive and one common share purchase warrant (each, a “warrant”) entitling the holder to acquire an additional common share at a price $0.09 until July 28, 2026. In the event the volume-weighted average closing price of the company’s common shares on the TSX Venture Exchange exceeds $0.40 for ten consecutive trading days, FuelPositive retains the option to accelerate the expiry date of the warrants to thirty days after a public announcement of the election. In accordance with applicable laws, all securities issued in connection with the settlement are subject to restrictions on resale until Nov. 29, 2023. The company also reached agreements with certain additional arm’s-length creditors to settle further outstanding indebtedness totaling $344,361 as detailed in the announcement. “We would like to express our gratitude to the numerous suppliers and lenders who have actively participated in this conversion opportunity,” said Ian Clifford, CEO and board chair of FuelPositive. “Their support and collaboration have been instrumental in directing additional operating capital towards our commercialization endeavors and strengthening our balance sheet.”
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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