CleanGo Innovations Inc. Announces Debt Settlement

Core Viewpoint - CleanGo Innovations Inc. has entered into debt settlement agreements to resolve an aggregate indebtedness of $308,801 by issuing 686,223 common shares at a deemed price of $0.45 per share, aimed at improving its working capital position and supporting ongoing business activities [1]. Group 1: Debt Settlement Details - The debt settlement will involve the issuance of 686,223 common shares at a price of $0.45 per share, totaling $308,801 in debt [1]. - A portion of the shares, specifically 519,557 common shares, will be issued to directors and officers of the company as part of the insider issuances for unpaid services [2]. - The insider issuances are classified as a "related party transaction" and the company is relying on exemptions from formal valuation and minority shareholder approval requirements under MI 61-101, as the fair market value does not exceed 25% of the company's market capitalization [2]. Group 2: Regulatory and Compliance Information - All shares issued in connection with the debt settlement will be subject to a hold period of four months and one day from the date of issuance, in accordance with Canadian securities laws [3]. - The completion of the debt settlement is contingent upon customary closing conditions and the receipt of all required regulatory approvals, including approval from the Canadian Securities Exchange [3]. Group 3: Company Overview - CleanGo Innovations Inc. specializes in developing proprietary, certified green, and sustainable solutions for industrial, commercial, and retail applications, with manufacturing operations across North and South America, and Saudi Arabia [4].