SBD Capital Corp. Announces Debt Settlement
SBD Capital Corp. (CSE: SBD) has announced a debt settlement plan to address an aggregate indebtedness of $158,324.92. The company intends to issue 3,166,498 common shares at a price of $0.05 per share to settle the debt. This transaction includes a related party component, with an insider set to receive 788,227 common shares. The debt settlement is subject to a four-month hold period and final acceptance from the Canadian Securities Exchange.
SBD Capital is relying on exemptions from valuation and minority shareholder approval requirements due to financial difficulties. The board of directors, excluding Mr. Chris Irwin, has approved the debt settlement. The company did not file a material change report 21 days before the closing, citing reasonable circumstances.
SBD Capital Corp. (CSE: SBD) ha annunciato un programma di regolamento del debito per affrontare un indebitamento complessivo di $158,324.92. L'azienda intende emettere 3,166,498 azioni ordinarie a un prezzo di $0.05 per azione per saldare il debito. Questa transazione include un componente di parte correlata, con un insider che riceverà 788,227 azioni ordinarie. Il regolamento del debito è soggetto a un periodo di blocco di quattro mesi e all'accettazione finale da parte della Borsa Canadese.
SBD Capital si basa su esenzioni dai requisiti di valutazione e approvazione da parte degli azionisti di minoranza a causa delle difficoltà finanziarie. Il consiglio di amministrazione, ad eccezione del signor Chris Irwin, ha approvato il regolamento del debito. L'azienda non ha presentato un rapporto di modifica sostanziale 21 giorni prima della chiusura, citando circostanze ragionevoli.
SBD Capital Corp. (CSE: SBD) ha anunciado un plan de liquidación de deudas para abordar una deuda total de $158,324.92. La compañía tiene la intención de emitir 3,166,498 acciones comunes a un precio de $0.05 por acción para saldar la deuda. Esta transacción incluye un componente de partes relacionadas, con un interno que recibirá 788,227 acciones comunes. La liquidación de la deuda está sujeta a un período de bloqueo de cuatro meses y a la aceptación final por parte de la Bolsa de Valores de Canadá.
SBD Capital se basa en exenciones a los requisitos de valoración y aprobación de accionistas minoritarios debido a dificultades financieras. La junta directiva, excluyendo al Sr. Chris Irwin, ha aprobado la liquidación de la deuda. La compañía no presentó un informe de cambio material 21 días antes del cierre, citando circunstancias razonables.
SBD Capital Corp. (CSE: SBD)는 총 채무 $158,324.92를 해결하기 위한 채무 정산 계획을 발표했습니다. 이 회사는 채무를 정산하기 위해 3,166,498주를 주당 $0.05의 가격으로 발행할 계획입니다. 이 거래에는 관련 당사자 구성 요소가 포함되어 있으며, 내부자가 788,227주를 받게 됩니다. 채무 정산은 4개월 보유 기간과 캐나다 증권 거래소의 최종 승인을 조건으로 합니다.
SBD Capital은 재정적 어려움으로 인해 평가 및 소수주주 승인 요건의 면제를 바탕으로 하고 있습니다. Chris Irwin 씨를 제외한 이사회는 채무 정산을 승인했습니다. 회사는 폐쇄 21일 전 중대한 변경 보고서를 제출하지 않았으며, 합리적인 상황을 이유로 들고 있습니다.
SBD Capital Corp. (CSE: SBD) a annoncé un plan de règlement de dette pour faire face à une dette totale de 158,324.92 $. La société envisage d'émettre 3,166,498 actions ordinaires à un prix de 0,05 $ par action pour régler la dette. Cette transaction comprend un composant de parties liées, avec un initié qui recevra 788,227 actions ordinaires. Le règlement de la dette est soumis à une période de blocage de quatre mois et à l'acceptation finale de la Bourse canadienne.
SBD Capital s'appuie sur des exonérations des exigences d'évaluation et d'approbation par les actionnaires minoritaires en raison de difficultés financières. Le conseil d'administration, à l'exception de M. Chris Irwin, a approuvé le règlement de la dette. L'entreprise n'a pas déposé de rapport de changement matériel 21 jours avant la clôture, invoquant des circonstances raisonnables.
SBD Capital Corp. (CSE: SBD) hat einen Schuldenbereinigungsplan angekündigt, um eine Gesamtschuld von 158,324.92 $ anzugehen. Das Unternehmen beabsichtigt, 3,166,498 Stammaktien zum Preis von 0,05 $ pro Aktie auszugeben, um die Schulden zu begleichen. Diese Transaktion umfasst ein Element von verbundenen Parteien, wobei ein Insider 788,227 Stammaktien erhalten wird. Die Schuldenregelung unterliegt einer viermonatigen Sperrfrist und der endgültigen Genehmigung der Canadian Securities Exchange.
SBD Capital beruft sich aufgrund finanzieller Schwierigkeiten auf Ausnahmen von den Bewertungs- und Genehmigungsanforderungen von Minderheitsaktionären. Der Vorstand, mit Ausnahme von Herrn Chris Irwin, hat die Schuldenregelung genehmigt. Das Unternehmen hat 21 Tage vor dem Abschluss keinen Bericht über wesentliche Änderungen eingereicht und führt dies auf angemessene Umstände zurück.
- Debt reduction of $158,324.92 through share issuance
- Potential improvement of company's financial position
- Dilution of existing shareholders due to issuance of 3,166,498 new common shares
- Related party transaction involving an insider receiving 788,227 shares
- Company in financial difficulty, as stated in the exemption rationale
Toronto, Ontario--(Newsfile Corp. - August 21, 2024) - SBD Capital Corp. (CSE: SBD) (the "Company") announces that it intends to settle an aggregate of
The Debt Settlement is constituted "related party transactions" as defined in Multilateral Instrument 61-101 - Protection of Minority Securityholders in Special Transactions ("MI 61-101"), as an insider of the Company will receive an aggregate of 788,227 Common Shares. The Company is relying on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(g) and 5.7(1)(e) of MI 61-101, as the Company is in financial difficulty and the transaction is designed to improve the financial position of the Company, as determined in accordance with MI 61-101. The Company did not file a material change report in respect of the related party transaction at least 21 days before the closing of the Debt Settlement, which the Company deems reasonable.
The Debt Settlement was approved by the members of the board of directors of the Company who are independent for the purposes of the Debt Settlement, being all directors other than Mr. Chris Irwin. No special committee was established in connection with the Debt Settlement, and no materially contrary view or abstention was expressed or made by any director of the Company in relation thereto.
For further information, please contact:
SBD Capital Corp.
Carly Burk
Secretary
Tel: (416) 361-2515
Email: cburk@irwinlowy.com
Forward-Looking Information
This news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "would", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Forward-looking information is based on the opinions and estimates of management at the date the information is provided, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's Management's Discussion and Analysis. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking information.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/220581
FAQ
What is the total debt SBD Capital Corp. (SBDCF) is settling through share issuance?
How many common shares will SBD Capital Corp. (SBDCF) issue for the debt settlement?
What is the price per share for the debt settlement shares of SBD Capital Corp. (SBDCF)?
Is there a hold period for the shares issued in SBD Capital Corp.'s (SBDCF) debt settlement?
Does the debt settlement of SBD Capital Corp. (SBDCF) involve any related party transactions?
