Core Points - Elixxer Ltd. has settled $5,528,670.19 of debt by issuing 67,014,183 common shares at a price of $0.0825 per share, subject to a four-month hold period and final acceptance by the TSX Venture Exchange [1] - The debt settlement involves related party transactions, with an insider receiving 62,165,699 common shares, and the company is relying on exemptions from certain requirements due to financial difficulties [2] - The board of directors, excluding two members, approved the debt settlement without establishing a special committee or expressing any contrary views [3] Shareholding Changes - Prior to the debt settlement, AIP Convertible Private Debt Fund held 3,633,391 common shares, representing approximately 32.04% of the issued shares on an undiluted basis [4] - After the settlement, AIP's holdings increased to 65,799,090 common shares, representing approximately 83.98% of the issued shares on an undiluted basis [4] Company Overview - Elixxer Ltd. is a Canadian public company listed on the TSX Venture Exchange and the US OTC-Pink exchange, focusing on investments in Canada and other countries, and seeking new high-growth opportunities [5]
Elixxer Ltd. Announces Debt Settlement
Newsfile·2025-09-16 21:09