Telescope Announces Debt Settlement Transaction

Core Viewpoint - Telescope Innovations Corp. has entered into agreements to settle outstanding indebtedness through the issuance of 689,654 common shares, indicating a strategic move to manage financial obligations and enhance liquidity [1]. Debt Settlement - The company has agreed to settle CAD $100,000 in outstanding indebtedness with Jason Hein, Chief Technology Officer, through the issuance of 344,827 shares at a deemed price of CAD $0.29 per share [2]. - Additionally, the company will settle CAD $100,000 of a secured loan of CAD $1,200,000, which bears interest at 6.95% per annum and matures on June 1, 2026, through the issuance of another 344,827 shares at the same price [3]. Related Party Transaction - Jason Hein's participation in the debt settlement qualifies as a "related party transaction" under Multilateral Instrument 61-101, with the company relying on exemptions from formal valuation and minority shareholder approval requirements [4]. Regulatory Compliance - All shares issued in the debt settlement will be subject to a statutory hold period of four months and one day, and the completion of the settlement is contingent upon approval from the Canadian Securities Exchange and other regulatory bodies [5]. Company Overview - Telescope Innovations is focused on developing scalable manufacturing processes and tools for the pharmaceutical and chemical industries, utilizing advanced technologies such as flexible robotic platforms and artificial intelligence to enhance efficiency and data quality [6].