Ubiquitech Software Corp. Reaches Debt Settlement Agreement
Ubiquitech Software Corp. (OTC PINK:UBQU) has secured an agreement with its largest noteholder to retire all outstanding convertible debentures, preventing conversion into common stock. The retirement will occur incrementally over the next year. CEO James Ballas described this move as a significant step towards enhancing the company’s capital structure and driving future growth. Ubiquitech Software, through its subsidiary CannazALL, aims to lead in the hemp CBD health sector, leveraging various marketing strategies to boost its market presence.
- Agreement to retire all outstanding convertible debentures, preventing stock dilution.
- Incremental retirement of notes over the next twelve months improves capital structure.
- CEO's commitment to driving business growth.
- Strategic focus on the multi-billion-dollar hemp CBD industry.
- None.
DENVER, CO / ACCESSWIRE / November 23, 2021 / Ubiquitech Software Corp. (OTC PINK:UBQU), through its operating subsidiary CannazALL™ (www.CannazALL.com) is announcing today that it has negotiated an agreement with its largest noteholder to retire all outstanding convertible debentures currently held by them.
Under the terms of the agreement, the noteholder will not convert any of the outstanding notes into shares of common stock of the Company. These notes will be retired in various increments over the course of the next twelve months.
CEO James Ballas said "This represents a large step forward for the Company. We expect to continue moving the Company forward from both a capital structure standpoint, and equally as important, continuing to re-ignite the growth of the business by executing our plans for 2022 and beyond"
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About Ubiquitech Software Corp
Ubiquitech Software Corp, through its subsidiary CannazALL.com seeks to be a leader in the hemp CBD health industry and utilizes its state-of-the-art global internet marketing, DirectResponse (DRTV) Television, Radio, Internet Content, SEO, and traditional marketing to drive traffic to the CannzALL.com Website to succeed in this multi-billion-dollar industry.
About CannazALL™
CannazALL™ CBD products have been offered via online sales since December 2014. The CannazALL CBD brand was one of the first in the industry to offer domestically grown and formulated CBD products on a national level with the CannazALL™ brand being recognized in 2017 by Forbes online as one of the Top 5 CBD Companies operating. CannazALL™ continues to perfect its CBD products, grow its proprietary CBD line, and expand its sales of its Colorado grown and formulated CBD products in all available markets. Currently CannazALL™ offers CBD Tinctures, Gummies, SoftGels, and Topicals @ www.CannazALL.com
Safe Harbor
Safe Harbor Provision Cautionary statement for purposes of the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995: Information in this news release contains forward-looking statements that involve risks, uncertainties and assumptions. If such risks or uncertainties materialize or such assumptions prove incorrect, the results of the Company and its consolidated subsidiaries could differ materially from those expressed or implied by such forward-looking statements and assumptions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. Risks, uncertainties and assumptions include the execution and performance of contracts by the Company and its customers, suppliers and partners. Please also review GD Entertainment and Technology annual and quarterly financials for a more complete discussion of risk factors. The Company disclaims any obligation to update or revise statements contained in this news release based on new information or otherwise. This communication shall not constitute an offer to sell or the solicitation of an offer to buy securities nor shall there be any sale of these securities in any state in which such solicitation or sale would be unlawful prior to registration or qualification of these securities under the laws of any such state.
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SOURCE: Ubiquitech Software Corp.
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