Voxtur Announces Issuance of Shares to Settle Debt with a Former Executive

Rhea-AI Summary

Voxtur Analytics Corp (TSXV: VXTR; OTCQB: VXTRF) announced its intention to issue 987,487 common shares valued at US$0.0769 (C$0.1044) per share to settle a debt of US$75,931 (C$103,130) owed to a former executive. This shares-for-debt transaction, subject to TSX Venture Exchange approval, is part of Voxtur's strategy to manage its financial obligations. The issued shares will have a hold period of four months and one day from the issuance date.

Positive

• Voxtur is addressing financial obligations by issuing shares, maintaining cash reserves.
• The transaction helps the company avoid immediate cash outflow.
• Settlement of debt increases transparency and financial stability.
• The issuance price is higher than the current trading price, indicating confidence in the company's valuation.

Negative

• Issuing 987,487 shares could lead to shareholder dilution.
• The transaction is subject to TSX Venture Exchange approval, adding uncertainty.
• The four-month hold period may affect share liquidity.

TORONTO and TAMPA, Fla., June 11, 2024 (GLOBE NEWSWIRE) -- Voxtur Analytics Corp. (TSXV: VXTR; OTCQB: VXTRF) (“Voxtur” or the “Company”), a North American technology company creating a more transparent and accessible real estate lending ecosystem, announces that it intends to issue (the “Issuance”) 987,487 common shares in the capital of the Company (“Common Shares”) at a deemed price of US$0.0769 (C$0.1044) per share, to settle the balance of a bonus owed to a former executive of the Company in the amount of US$75,931 (C$103,130) (the “Debt”).

The Issuance is considered to be a shares-for-debt transaction pursuant to the policies of the TSX Venture Exchange (the “TSXV”) and remains subject to TSXV approval. The Common Shares to be issued pursuant to the transaction will be subject to a hold period of four (4) months and one (1) day from the date of issuance.

About Voxtur

Voxtur is a transformational real estate technology company that is redefining industry standards in a dynamic lending environment. The Company offers targeted data analytics to simplify the multifaceted aspects of the lending lifecycle for investors, lenders, government agencies and servicers. Voxtur's proprietary data hub and workflow platforms more accurately and efficiently value assets, originate and service loans, and securitize portfolios. As an independent and transparent mortgage technology provider, the Company offers primary and secondary market solutions in the United States and Canada. For more information, visit www.voxtur.com.

Neither TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Information

This news release contains forward-looking statements and forward-looking information (collectively, “forward-looking information”). Any information contained herein that is not based on historical facts may be deemed to constitute forward-looking information within the meaning of Canadian and United States securities laws. Forward-looking information may be based on expectations, estimates and projections as at the date of this news release, and may be identified by the words “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” or similar expressions. Forward-looking information may include, but is not limited to: the completion of the Issuance; approval of the Issuance by the TSXV; expectations for the effects of certain milestones or the ability of the Company to successfully achieve certain business objectives; the effects of unexpected costs, liabilities or delays; success of software activities; regulatory approval; the competition for skilled personnel; expectations for other economic, business, environmental, regulatory and/or competitive factors related to the Company, or the real estate industry generally; anticipated future production costs; and other events or conditions that may occur in the future. Investors are cautioned that forward-looking information is not based on historical facts but instead reflects estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the information is provided. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance, or achievements of the Company. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information include but are not limited to: additional costs related to acquisitions; ; integration of acquired businesses; implementation of new products; changing global financial conditions, especially in light of the COVID-19 global pandemic; reliance on specific key employees and customers to maintain business operations; competition within the Company's industry; a risk in technological failure or failure to implement technological upgrades in accordance with expected timelines; changing market conditions; failure of governing agencies and regulatory bodies to approve the use of products and services developed by the Company; the Company’s dependence on maintaining intellectual property and protecting newly developed intellectual property; operating losses and negative cash flows; and currency fluctuations. Accordingly, readers should not place undue reliance on forward-looking information contained herein.

This forward-looking information is provided as of the date of this news release and, accordingly, is subject to change after such date. The Company does not assume any obligation to update or revise this information to reflect new events or circumstances except as required in accordance with applicable laws.

Voxtur's common shares are traded on the TSX Venture Exchange under the symbol VXTR and in the US on the OTCQB under the symbol VXTRF.

Contact:
Jordan Ross
Chief Investment Officer
Tel: (416) 708-9764
jordan@voxtur.com

For media inquiries:

Jacob Gaffney
Tel: (817) 471-7627
jacob@gaffneyaustin.com

FAQ

What is the value of the shares Voxtur Analytics Corp. is issuing?

Voxtur Analytics Corp. is issuing 987,487 common shares valued at US$0.0769 (C$0.1044) per share to settle a debt.

What is the purpose of Voxtur Analytics Corp. issuing new shares?

Voxtur Analytics Corp. is issuing new shares to settle a debt of US$75,931 (C$103,130) owed to a former executive.

How many shares is Voxtur Analytics Corp. issuing to settle its debt?

Voxtur Analytics Corp. intends to issue 987,487 common shares to settle its debt.

When will the shares issued by Voxtur Analytics Corp. be available for trading?

The shares issued will be subject to a hold period of four months and one day from the date of issuance.

What approvals are required for Voxtur Analytics Corp.'s share issuance?

The share issuance is subject to approval by the TSX Venture Exchange.