Deveron Announces Closing of Debt Settlement
Deveron Corp. (TSXV: FARM), a leading agriculture services and data company in North America, has announced the closing of a debt settlement. The company has settled an outstanding promissory note of $400,000 through the issuance of 5,714,285 Units. Each Unit consists of one common share and one-half of one whole Common Share purchase warrant. Each whole warrant allows the holder to acquire one Common Share at $0.10 per share within 18 months from the issuance date.
The securities issued in this Debt Settlement are subject to a four-month plus one day hold period from the issuance date and applicable resale rules. The company clarifies that this press release does not constitute an offer to sell or a solicitation of an offer to buy securities in the United States, as the securities have not been registered under the U.S. Securities Act or state securities laws.
Deveron Corp. (TSXV: FARM), un'azienda leader nei servizi agricoli e nei dati in Nord America, ha annunciato la chiusura di un accordo di risoluzione del debito. L'azienda ha risolto un nota di credito scadente di $400.000 attraverso l'emissione di 5.714.285 Units. Ogni Unit è composta da un'azione comune e da metà di un intero warrant per l'acquisto di un'azione comune. Ogni warrant intero consente al detentore di acquisire un'azione comune a $0.10 per azione entro 18 mesi dalla data di emissione.
I titoli emessi in questa risoluzione del debito sono soggetti a un periodo di blocco di quattro mesi più un giorno dalla data di emissione e alle normative di rivendita applicabili. L'azienda chiarisce che questo comunicato stampa non costituisce un'offerta di vendita né una sollecitazione di un'offerta di acquisto di titoli negli Stati Uniti, in quanto i titoli non sono stati registrati ai sensi del Securities Act degli Stati Uniti o delle leggi statali sui titoli.
Deveron Corp. (TSXV: FARM), una empresa líder en servicios agrícolas y de datos en América del Norte, ha anunciado el cierre de un acuerdo de liquidación de deuda. La empresa ha liquidado un pagaré pendiente de $400,000 mediante la emisión de 5,714,285 Unidades. Cada Unidad consiste en una acción común y la mitad de un warrant de compra de acciones comunes. Cada warrant completo permite al titular adquirir una Acción Común a $0.10 por acción dentro de 18 meses a partir de la fecha de emisión.
Los valores emitidos en esta Liquidación de Deuda están sujetos a un período de retención de cuatro meses más un día desde la fecha de emisión y a las reglas de reventa aplicables. La empresa aclara que este comunicado de prensa no constituye una oferta de venta ni una solicitud de una oferta para comprar valores en los Estados Unidos, ya que los valores no han sido registrados bajo la Ley de Valores de EE. UU. o las leyes estatales de valores.
Deveron Corp. (TSXV: FARM)는 북미의 주요 농업 서비스 및 데이터 회사로, 부채 정산 마감 소식을 발표하였습니다. 이 회사는 $400,000의 미지급 약속 어음을 5,714,285 유닛을 발행하여 정산하였습니다. 각 유닛은 하나의 보통주와 하나의 전체 보통주 매수 워런트의 절반으로 구성됩니다. 각 전체 워런트는 보유자가 $0.10 per 주식에 보통주를 18개월 이내에 매수할 수 있도록 허용합니다.
이 부채 정산에서 발행된 증권은 발행일로부터 네 개의 개월 및 하루의 보유 기간과 해당 재판매 규정의 적용을 받습니다. 회사는 이 보도 자료가 미국에서 증권을 판매하거나 구매 제안을 유도하는 것이 아님을 명확히 하며, 증권이 미국 증권법 또는 주 증권법에 따라 등록되지 않았기 때문입니다.
Deveron Corp. (TSXV: FARM), une entreprise leader dans les services agricoles et les données en Amérique du Nord, a annoncé la clôture d'un accord de règlement de dette. L'entreprise a réglé un billet à ordre impayé de 400 000 $ grâce à l'émission de 5 714 285 unités. Chaque unité est composée d'une action ordinaire et d'une moitié d'un bon de souscription d'action ordinaire. Chaque bon entier permet à son détenteur d'acquérir une action ordinaire à 0,10 $ par action dans un délai de 18 mois à compter de la date d'émission.
Les titres émis dans le cadre de ce règlement de dette sont soumis à une période de verrouillage de quatre mois plus un jour à partir de la date d'émission et aux règles de revente applicables. L'entreprise précise que ce communiqué de presse ne constitue pas une offre de vente ni une sollicitation d'offre d'achat de titres aux États-Unis, car les titres n'ont pas été enregistrés en vertu de la loi américaine sur les valeurs mobilières ou des lois étatiques sur les valeurs mobilières.
Die Deveron Corp. (TSXV: FARM), ein führendes Unternehmen für Agrarservices und Daten in Nordamerika, hat den Abschluss einer Schuldenregelung bekannt gegeben. Das Unternehmen hat einen ausstehenden Schuldschein in Höhe von 400.000 $ durch die Ausgabe von 5.714.285 Einheiten geregelt. Jede Einheit besteht aus einer Stammaktie und der Hälfte eines Kaufwarrants für Stammaktien. Jeder vollständige Warrant erlaubt es dem Inhaber, eine Stammaktie zu 0,10 $ pro Aktie innerhalb von 18 Monaten ab dem Ausgabedatum zu erwerben.
Die im Rahmen dieser Schuldenregelung ausgegebenen Wertpapiere unterliegen einem vier Monate plus einem Tag Haltefrist ab dem Ausgabedatum sowie den geltenden Rückverkaufsbedingungen. Das Unternehmen stellt klar, dass diese Pressemitteilung kein Angebot zum Verkauf oder eine Aufforderung zur Abgabe eines Kaufangebots für Wertpapiere in den Vereinigten Staaten darstellt, da die Wertpapiere nicht gemäß dem US-Wertpapiergesetz oder den staatlichen Wertpapiergesetzen registriert wurden.
- Successful settlement of $400,000 outstanding debt
- Issuance of 5,714,285 Units, potentially improving the company's financial position
- Potential dilution of existing shareholders due to the issuance of new shares
- Warrants may lead to further dilution if exercised in the future
Toronto, Ontario--(Newsfile Corp. - October 4, 2024) - Deveron Corp. (TSXV: FARM) ("Deveron" or the "Company"), a leading agriculture services and data company in North America, is pleased to announce that further to its press releases of August 15, 2024 and September 16, 2024, the Company has settled an outstanding promissory note (the "Note") in the amount of
All securities issued in connection with the Debt Settlement are subject to a hold period of four months plus a day from the date of issuance and the resale rules of applicable securities legislation.
This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons as defined under applicable United States securities laws unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
About Deveron: Deveron is an agriculture technology company that uses data and insights to help farmers and large agriculture enterprises increase yields, reduce costs and improve farm outcomes. The company employs a digital process that leverages data collected on farms across North America to drive unbiased interpretation of production decisions, ultimately recommending how to optimize input use. Our team of agronomists and data scientists build products that recommend ways to better manage fertilizer, seed, fungicide, and other farm inputs. Additionally, we have a national network of data technicians that are deployed to collect various types of farm data, from soil to drones, that build a basis of our best-in-class data layers. Our focus is the US and Canada where 1 billion acres of farmland are actively farmed annually.
For more information and to join our community, please visit www.deveron.com/investors or reach us on Twitter @Deveron.
David MacMillan
Chief Executive Officer
dmacmillan@deveron.com
Tel: 647-963-2429
This news release includes certain "forward-looking statements" within the meaning of that phrase under Canadian securities laws. Without limitation, statements regarding future plans and objectives of the Company are forward-looking statements that involve various degrees of risk. Forward-looking statements reflect management's current views with respect to possible future events and conditions and, by their nature, are based on management's beliefs and assumptions and subject to known and unknown risks and uncertainties, both general and specific to the Company. Although the Company believes the expectations expressed in such forward-looking statements are reasonable, such statements are not guarantees of future performance and actual results or developments may differ materially from those in our forward-looking statements. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward-looking statements: changes in the world-wide price of agricultural commodities, general market conditions, risks inherent in agriculture, the uncertainty of future profitability and the uncertainty of access to additional capital. Additional information regarding the material factors and assumptions that were applied in making these forward looking statements as well as the various risks and uncertainties we face are described in greater detail in the "Risk Factors" section of our annual and interim Management's Discussion and Analysis of our financial results and other continuous disclosure documents and financial statements we file with the Canadian securities regulatory authorities which are available at www.sedarplus.ca. The Company undertakes no obligation to update this forward-looking information except as required by applicable law. The Company relies on litigation protection for forward-looking statements.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/225708
FAQ
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What is the hold period for securities issued in Deveron Corp.'s (TSXV: FARM) Debt Settlement?
