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SBD Capital Corp. (CSE: SBD) has successfully completed a debt settlement transaction, converting $418,571.82 of outstanding debt into 1,550,263 common shares at $0.27 per share. The settlement, approved by minority shareholders on January 24, 2025, includes transactions with company insiders, qualifying as 'related party transactions' under MI 61-101.
Following the debt settlement, significant ownership changes occurred: Irwin Lowy LLP's stake increased from 4.886% to 23.59% (551,768 shares), while Mr. Contardi's holdings grew from 9.99% to 18.12% (423,773 shares). The newly issued shares are subject to a four-month hold period and final Canadian Securities Exchange approval.
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