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Nepra Foods Inc. (NPRFF) is a company dedicated to providing healthy and nutritious food options. With a focus on allergen-free, plant-based foods, Nepra Foods aims to make eating healthy easy and enjoyable for everyone. The company recently announced a non-brokered private placement to raise funds for general corporate purposes. Nepra Foods is committed to offering high-quality, low-carb food options that taste great and provide essential nutrition for consumers. Led by CEO Chadwick White, Nepra Foods is on a mission to create delicious and nutritious food that the whole family can enjoy together.
Nepra Foods (CSE:NPRA, OTC PINK:NPRFF) has announced a US$950,000 debt conversion and board changes. The company has agreed with lender William Hogan to convert outstanding loan obligations of US$970,551 into 26,445,572 common shares at C$0.05 per share. This conversion will eliminate all existing security held by the lender and discharge Nepra's obligations under the loan agreement.
The conversion is considered a 'related party transaction' as the lender is an insider shareholder. Nepra is relying on exemptions from formal valuation and minority approval requirements. The board of directors has unanimously determined that the company is in serious financial difficulty and that this transaction is designed to improve its financial position.
Additionally, Mark Olmsted has resigned as a director of the company, effective July 12, 2024.
Nepra Foods has announced the full revocation of its failure-to-file cease trade order (CTO) by the British Columbia Securities Commission and the Ontario Securities Commission, effective July 5, 2024. The CTO, issued on October 6, 2023, resulted from Nepra's failure to file essential financial documents for the periods ending March 31, 2023, and June 30, 2023. The company completed these filings on May 1, 2024, and expects trading of its common shares on the Canadian Securities Exchange to resume shortly. Despite the CTO, Nepra Foods has maintained its business operations throughout this period.
Nepra Foods announced the filing of audited financial statements for March 31, 2023, along with MD&A and subsequent quarterly financial statements. The company aims to resume trading on the Canadian Securities Exchange after the cease trade order issued in October 2023.
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