IGEX Announces Restructuring of Convertible Note and Share Purchase by Instituto Europeo Para El Emprendimiento S.L. (IEE)
IGEX has announced the restructuring of its convertible note, reducing conversion rate and principal while extending the conversion period. Instituto Europeo Para El Emprendimiento S.L. has purchased 300 million shares, signaling confidence in IGEX's growth. The company aims to fortify its financial position, eliminate debt, and enhance shareholder value.
Successful restructuring of convertible note to eliminate debt and position for growth
Strategic investment by Instituto Europeo Para El Emprendimiento S.L. showing confidence in IGEX's prospects
Enhanced financial position and commitment to creating shareholder value
- None.
Indo Global Exchange(s) Pte. LTD (the "Company") (OTC PINK:IGEX) today announced a significant milestone in its strategic restructuring efforts aimed at fortifying its financial position and enhancing shareholder value.
BRIGHTON, CO / ACCESSWIRE / May 2, 2024 / After months of diligent negotiations with noteholders, IGEX has agreed to restructure its only convertible note. The settlement terms include a reduction in the conversion rate to 0.0001 and a reduction in principal. Additionally, the conversion period has been extended until the end of 2024. This agreement marks a pivotal moment for IGEX as it eliminates its only pre-existing debt and positions the company for sustained growth and enhanced market strength.
LOGO
IGEX filed Form 4 with the U.S. Securities and Exchange Commission (SEC) today, disclosing that IIE, a preferred shareholder, has purchased 300 million shares of IGEX. This strategic investment underscores IEE's confidence in IGEX's long-term prospects and commitment to supporting the company's growth initiatives.
"We are pleased to announce the successful restructuring of our convertible note and the strategic investment by Instituto Europeo para el Emprendimiento S.L.," said Antonio Sainz Millan, CEO. "This milestone demonstrates our dedication to fortifying IGEX's financial position and creating value for our shareholders. By eliminating our only pre-existing debt and securing additional investment, we are well-positioned to pursue our growth objectives and drive long-term shareholder value."
Management strongly believes that eliminating the company's only pre-existing debt before year-end and continuing to add assets to restructure the balance sheet will provide business sustainability, growth, and market strength, benefiting IGEX and its shareholders in the long run.
Safe Harbor Statement
This press release includes forward-looking statements based on certain assumptions and reflects management's current expectations. These forward-looking statements are subject to several risks and uncertainties that could cause actual results or events to differ materially from current expectations. Some of these factors include general global economic conditions; general industry and market conditions sector changes and growth rates; uncertainty as to whether our strategies and business plans will yield the expected benefits; increasing competition; availability and cost of capital; the ability to identify, develop and achieve commercial success; the level of expenditures necessary to maintain and improve the quality of services; changes in the economy; changes in laws and regulations, including codes and standards, intellectual property rights, and tax matters; or other matter not anticipated; our ability to secure and maintain strategic relationships and distribution agreements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether due to new information, future events, or otherwise. You are cautioned not to rely on these forward-looking statements, which speak only as of the date they are made. This press release should be considered in light of all filings of the Company that are contained in the Edgar Archives of the Securities and Exchange Commission at www.sec.gov and in OTC Markets at www.otcmarkets.com.
SOURCE: The Mineral Company (f/k/a Indo Global Exchange(s) Pte. LTD)
Contact Information
Antonio Sainz Millan
CEO
igexglobal@igex.com
+34 691228309
SOURCE: Indo Global Exchange(s) PTE LTD
View the original press release on newswire.com.
FAQ
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