Wellfield Provides Update to Shares for Debt Transaction
Wellfield Technologies Inc. (TSXV: WFLD) has updated its shares for debt transaction, reducing the total debt to be settled to $676,970. This will be accomplished through the issuance of 11,043,395 common shares (Settlement Shares) at a deemed price of $0.06 per share for convertible debentures and $0.0714 per share for consulting payables. The Settlement Shares will be subject to a four-month and one-day statutory hold period. This debt settlement includes outstanding principal and accrued interest on certain convertible debentures, as well as payables for consulting services. The transaction remains subject to final approval from the TSX Venture Exchange.
Wellfield Technologies Inc. (TSXV: WFLD) ha aggiornato le sue azioni per la transazione di debito, riducendo il debito totale da liquidare a $676,970. Questo sarà realizzato tramite l'emissione di 11,043,395 azioni ordinarie (Azioni di Liquidazione) a un prezzo presunto di $0.06 per azione per i debentures convertibili e $0.0714 per azione per i pagamenti di consulenza. Le Azioni di Liquidazione saranno soggette a un periodo di sospensione legale di quattro mesi e un giorno. Questa liquidazione del debito include il capitale in sospeso e gli interessi accumulati su determinati debentures convertibili, oltre ai pagamenti per servizi di consulenza. La transazione è soggetta all'approvazione finale da parte del TSX Venture Exchange.
Wellfield Technologies Inc. (TSXV: WFLD) ha actualizado sus acciones para la transacción de deuda, reduciendo el total de la deuda a liquidar a $676,970. Esto se logrará a través de la emisión de 11,043,395 acciones ordinarias (Acciones de Liquidación) a un precio estimado de $0.06 por acción para los bonos convertibles y $0.0714 por acción para los pagos de consultoría. Las Acciones de Liquidación estarán sujetas a un período de retención legal de cuatro meses y un día. Esta liquidación de deuda incluye el capital pendiente y los intereses devengados sobre ciertos bonos convertibles, así como los pagos por servicios de consultoría. La transacción sigue sujeta a la aprobación final de TSX Venture Exchange.
Wellfield Technologies Inc. (TSXV: WFLD)는 부채 거래를 위해 주식을 업데이트했습니다, 총 정산할 부채를 $676,970으로 줄였습니다. 이는 11,043,395주 일반주식 (정산주식)을 주당 $0.06의 가정 가격으로 전환사채 및 주당 $0.0714로 컨설팅 비용을 위해 발행함으로써 이루어집니다. 정산주는 4개월 1일의 법정 유예 기간에 적용됩니다. 이 부채 정산에는 일부 전환사채에 대한 미지급 원금 및 누적 이자와 컨설팅 서비스에 대한 지급금이 포함됩니다. 이 거래는 TSX Venture Exchange의 최종 승인을 받아야 합니다.
Wellfield Technologies Inc. (TSXV: WFLD) a mis à jour ses actions pour la transaction de dette, réduisant le montant total de la dette à régler à $676,970. Cela sera réalisé par l'émission de 11,043,395 actions ordinaires (Actions de Règlement) à un prix présumé de $0.06 par action pour des obligations convertibles et $0.0714 par action pour des paiements de consultation. Les Actions de Règlement seront soumises à une période de blocage statutaire de quatre mois et un jour. Ce règlement de dettes comprend le capital en suspens et les intérêts courus sur certaines obligations convertibles, ainsi que des créances pour des services de consultation. La transaction reste soumise à l'approbation finale de la TSX Venture Exchange.
Wellfield Technologies Inc. (TSXV: WFLD) hat seine Aktien für die Schuldentransaktion aktualisiert und den gesamten zu begleichenden Schuldenbetrag auf $676,970 reduziert. Dies wird durch die Ausgabe von 11,043,395 Stammaktien (Abwicklungsaktien) zu einem festgelegten Preis von $0.06 pro Aktie für wandelbare Anleihen und $0.0714 pro Aktie für Beratungszahlungen erreicht. Die Abwicklungsaktien unterliegen einer gesetzlichen Sperrfrist von vier Monaten und einem Tag. Diese Schuldenregelung umfasst ausstehendes Kapital und aufgelaufene Zinsen auf bestimmte wandelbare Anleihen sowie Zahlungen für Beratungsdienste. Die Transaktion steht weiterhin unter dem Vorbehalt der endgültigen Genehmigung durch die TSX Venture Exchange.
- Reduction of outstanding debt by $676,970
- Settlement of debt without cash outlay
- Preservation of cash for operational needs
- Dilution of existing shareholders' ownership
- Increase in the number of outstanding shares by 11,043,395
- Potential downward pressure on share price due to increased supply
Toronto, Ontario--(Newsfile Corp. - August 21, 2024) - Wellfield Technologies Inc. (TSXV: WFLD) (the "Company" or "Wellfield") is pleased to announce that, further to the Company's June 3, 2024 news release (the "Original News Release"), the Company has decreased the aggregate indebtedness to be settled (the "Debt Settlement") through the issuance of common shares in the capital of the Company (the "Common Shares") to
As previously announced in the Original News Release, the Settlement Shares will be issued to satisfy the Company's outstanding debt related to the principal and accrued but unpaid portions of the interest payments outstanding under certain convertible debentures of the Company (the "Debentures") as well as certain payables for consulting services provided to the Company (the "Consulting Payables"). The Settlement Shares are proposed to be issued to the creditors at a deemed price of
About Wellfield Technologies
Wellfield is an R&D focused Fintech company that operates on public blockchains including Bitcoin and Ethereum. The Company operates a regulated platform that onboards customers globally at scale, leveraging its proprietary decentralized technology to offer highly disruptive on-chain self-custody solutions. Wellfield operates through two brands: Coinmama, which with a growing base of more than 3.5 million registered users, is one of the most trusted and enduring global brands operating in the crypto space; and Wellfield Capital, which the Company announced in late 2022 to meet the needs of institutional users and professional investors.
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 includes statements regarding the approval of the TSX Venture Exchange of the transactions contemplated herein, which 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 the Company satisfying the conditions for TSX Venture Exchange approval of the transactions herein; and 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.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) has approved nor disapproved the contents of this news release, nor do they accept responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/220732
FAQ
What is the total debt being settled by Wellfield Technologies (WFLDF) in this transaction?
How many common shares is Wellfield Technologies (WFLDF) issuing for the debt settlement?
What is the deemed price per share for the debt settlement by Wellfield Technologies (WFLDF)?
When will the Settlement Shares issued by Wellfield Technologies (WFLDF) be free to trade?
