Telescope Reveals Agreement on Debt Settlement
Debt Settlement Announcement: Telescope Innovations Corp. has agreed to settle CAD $100,000 in outstanding indebtedness by issuing 689,654 common shares, including 344,827 shares to Chief Technology Officer Jason Hein.
Loan Facility Details: The company has a secured loan facility of CAD $1,200,000 with a 6.95% interest rate, maturing on June 1, 2026, and will also settle CAD $100,000 of this loan through the issuance of shares.
Related Party Transaction: The issuance of shares to Jason Hein is classified as a related party transaction under Multilateral Instrument 61-101, with the company relying on exemptions from formal valuation and minority shareholder approval.
Forward-Looking Information Disclaimer: The news release includes forward-looking information, which is subject to risks and uncertainties, and the company disclaims any obligation to update such information unless required by law.
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