Article content
TORONTO, Dec. 04, 2024 (GLOBE NEWSWIRE) — KMT-Hansa Corp.institution“) would like to announce that it has agreed to settle (collectively,”)Debt settlement“) with a total debt of $940,024.92 to four (4) independent creditors. Debt settlement consists of:
Article content
The bonds bear interest at the rate of 7% per annum from the date of issuance, and mature on a date that is one (1) year from the date of issuance (“due date“). The Notes will be convertible, in whole or in part, into one (1) unit (each “).Bond unit“) in the enterprise’s capital at the conversion price (“Conversion price“) equals $0.04 per debt unit. All accrued and unpaid interest on debt securities, up to the date of conversion and the maturity date, is converted into bond units at the earlier of the conversion rate.
Each Note Unit will consist of one (1) common share (each).Ordinary bond share“) and; (ii) one (1) common stock purchase warrant (each, “Bond order“). Each Warrant entitles the holder thereof to purchase one common share at an exercise price of $0.05 per share for a period of one (1) year from the date of issuance.
The total number of common shares issuable pursuant to the debt settlement, assuming that all of the notes are converted into common shares of the notes on the maturity date and all of the notes’ warrants are exercised, will be approximately 34,200,623 common shares.
Article content
The closing of debt settlements is subject to customary closing conditions and approvals by applicable securities regulatory authorities, including the TSX Venture Exchange. All securities issued in connection with debt settlements will be subject to a suspension period of four months plus one day from the date of issue and the resale rules of applicable securities legislation.
For more information please contact:
Donald Wu
president
Email: kmthansa@gmail.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts liability
To ensure the adequacy or accuracy of this release.
Forward-looking statements
This press release contains “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as “plans,” “expects,” “expects,” “does not anticipate,” “expects,” “budgeted,” “planned,” “estimates,” or “predicts.” or “intends,” “expects,” “does not anticipate,” “believes,” or variations of these words and phrases indicate or imply that certain actions, events or results “may” or “could,” “may”, “may”, “will”, “occur” or “achieve” KMT-Hansa is subject to significant risks and uncertainties that could cause actual results, performance or achievements to be materially different from any expressed or expected future results, performance or achievements. Implied in the forward-looking statements contained in this release KMT-Hansa cannot assure investors that actual results will be consistent with such forward-looking statements and KMT-Hansa undertakes no obligation to update or revise the forward-looking statements contained herein. Release to reflect actual events or new circumstances.
Share this article in your social network
Comments are closed, but trackbacks and pingbacks are open.