Wellfield Announces Amendments to and Consolidation of Debentures
Wellfield Technologies Inc. (TSXV: WFLD) has announced amendments to and consolidation of its debentures. The company has agreed with a private lender to consolidate its debt, combining a US$205,079 convertible debt with a US$1,331,733 non-convertible debt. The amended and restated debenture (A&R Debenture) now has a principal amount of US$1,725,058, which includes legal fees and a deferment fee of US$156,823.
The A&R Debenture is payable in three installments between February 2025 and August 2025, with interest rates ranging from 16.4% to 21% per annum. Wellfield has also entered into a general security agreement with the lender, providing security over all of the company's present and after-acquired personal property.
Wellfield Technologies Inc. (TSXV: WFLD) ha annunciato modifiche e consolidamento dei suoi debentures. L'azienda ha raggiunto un accordo con un prestatore privato per consolidare il proprio debito, combinando un debito convertibile di 205.079 dollari USA con un debito non convertibile di 1.331.733 dollari USA. Il debenture modificato e riformulato (A&R Debenture) ora ha un capitale di 1.725.058 dollari USA, che include spese legali e un costo di differimento di 156.823 dollari USA.
Il A&R Debenture è pagabile in tre rate tra febbraio 2025 e agosto 2025, con tassi di interesse che vanno dal 16,4% al 21% annuo. Wellfield ha inoltre stipulato un accordo di sicurezza generale con il prestatore, fornendo garanzia su tutte le proprietà personali presenti e future dell'azienda.
Wellfield Technologies Inc. (TSXV: WFLD) ha anunciado modificaciones y consolidación de sus debentures. La empresa ha acordado con un prestamista privado consolidar su deuda, combinando una deuda convertible de 205,079 dólares estadounidenses con una deuda no convertible de 1,331,733 dólares estadounidenses. El debenture modificado y reformulado (A&R Debenture) ahora tiene un monto principal de 1,725,058 dólares estadounidenses, que incluye honorarios legales y una tarifa de aplazamiento de 156,823 dólares estadounidenses.
El A&R Debenture es pagadero en tres cuotas entre febrero de 2025 y agosto de 2025, con tasas de interés que varían del 16.4% al 21% anual. Wellfield también ha celebrado un acuerdo de seguridad general con el prestamista, proporcionando garantía sobre todos los bienes personales presentes y adquiridos posteriormente de la empresa.
웰필드 테크놀로지스 Inc. (TSXV: WFLD)는 전환 사채의 개정 및 통합을 발표했습니다. 이 회사는 개인 대출자와 합의하여 205,079달러의 전환 사채와 1,331,733달러의 비전환 사채를 통합했습니다. 개정된 사채(A&R Debenture)는 이제 1,725,058달러의 원금을 보유하고 있으며, 여기에는 법적 수수료와 156,823달러의 유예 수수료가 포함됩니다.
A&R Debenture는 2025년 2월부터 2025년 8월 사이에 세 번의 할부로 지불되며, 연이율이 16.4%에서 21%까지의 범위입니다. 웰필드는 또한 대출자와 함께 일반 담보 계약을 체결하여 회사의 현재 및 향후 모든 개인 자산에 대한 담보를 제공하고 있습니다.
Wellfield Technologies Inc. (TSXV: WFLD) a annoncé des modifications et la consolidation de ses débentures. La société a convenu avec un prêteur privé de consolider sa dette, combinant une dette convertible de 205 079 dollars américains avec une dette non convertible de 1 331 733 dollars américains. La débenture amendée et reformulée (A&R Debenture) a désormais un montant principal de 1 725 058 dollars américains, ce qui inclut des frais juridiques et une frais de report de 156 823 dollars américains.
La A&R Debenture est payable en trois versements entre février 2025 et août 2025, avec des taux d'intérêt allant de 16,4% à 21% par an. Wellfield a également conclu un accord de sûreté général avec le prêteur, fournissant une garantie sur tous les biens personnels actuels et à venir de l'entreprise.
Wellfield Technologies Inc. (TSXV: WFLD) hat Änderungen und Konsolidierung seiner Anleihen bekannt gegeben. Das Unternehmen hat sich mit einem privaten Kreditgeber darauf geeinigt, seine Schulden zu konsolidieren, indem eine wandelbare Schuld von 205.079 US-Dollar mit einer nicht wandelbaren Schuld von 1.331.733 US-Dollar kombiniert wird. Die geänderte und neu gefasste Schuldverschreibung (A&R Debenture) hat nun einen Nennbetrag von 1.725.058 US-Dollar, welcher Anwaltsgebühren und eine Stundungsgebühr von 156.823 US-Dollar beinhaltet.
Die A&R Debenture ist in drei Raten zwischen Februar 2025 und August 2025 fällig, mit Zinssätzen von 16,4% bis 21% pro Jahr. Wellfield hat auch einen allgemeinen Sicherheitenvertrag mit dem Kreditgeber abgeschlossen, der Sicherheit für sämtliches aktuelles und künftig erworbenes persönliches Eigentum des Unternehmens bietet.
- Consolidation of debt may simplify the company's financial structure
- Deferment of debt payments to 2025 provides short-term financial flexibility
- Increased total debt amount to US$1,725,058 from US$1,536,812
- High interest rates ranging from 16.4% to 21% per annum
- Addition of US$156,823 deferment fee increases overall debt burden
- New general security agreement potentially limits company's financial flexibility
Toronto, Ontario--(Newsfile Corp. - August 29, 2024) - Wellfield Technologies Inc. (TSXV: WFLD) (the "Company" or "Wellfield") is pleased to announce that, further to its news release dated June 3, 2024, it has entered into an agreement with a private lender (the "Lender") to consolidate the Company's debt in the aggregate amount of US
The Non-Convertible Debenture has been amended and restated (as amended and restated, the "A&R Debenture") such that the Remaining Convertible Debt will be added to the Remaining Non-Convertible Debt, together with the amount of legal fees incurred by the Lender and a deferment fee in the amount of US
The principal amount of the A&R Debenture is US
About Wellfield Technologies
Wellfield Technologies, Inc. (TSXV: WFLD) is a leading fintech company specializing in innovative solutions leveraging blockchain technology. Our platform Coinmama (web and Mobile app), provides seamless access to the cryptocurrency market for over 3.5 million registered users across 180 countries. We offer disruptive on-chain and web3 secure and friendly self-custody solutions through Coinmama. Additionally, Wellfield operates Tradewind Markets platform to digitize and trade real-world assets, including our flagship VaultChain™ Gold and VaultChain™ Silver products. Expanding our offerings for institutional clients, we present Brane Trust aiming to operate Alberta Canada's second qualified digital asset custodian.
Join Wellfield's digital community on LinkedIn and Twitter, and for more details, visit wellfield.io
For further information contact:
Wellfield Technologies Inc.
Levy Cohen, CEO
levyc@wellfield.io
Ryan Graybill, Investor Relations
ryan.graybill@wellfield.io
Cautionary Notice on Forward-Looking Statements
This news release contains statements that constitute "forward-looking information" ("forward-looking information") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking information and are based on expectations, estimates and projections as at the date of this news release. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information. Forward-looking information in this news release are based on the Company's current internal expectations, estimates, projections, assumptions and beliefs, which may prove to be incorrect. These statements are not guarantees of future performance and undue reliance should not be placed on them. Such forward- looking information necessarily involves known and unknown risks and uncertainties, which may cause the Company's actual performance and results in to differ materially from any projections of future performance or results expressed or implied by such forward-looking information. These risks and uncertainties include, but are not limited to general business, financial market, economic, competitive, political and social uncertainties. There can be no assurance that forward-looking statements will prove to be accurate, and actual results and future events could differ materially from those anticipated. Readers are cautioned that the foregoing list is not exhaustive and readers are encouraged to review the disclosure documents accessible on the Company's SEDAR+ profile at www.sedarplus.ca. Readers are further cautioned not to place undue reliance on forward-looking information as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking information.
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/221583
FAQ
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