FutureGen Industries Announces Closing of Debt Settlement

Core Viewpoint - FutureGen Industries Corp. has successfully closed a debt settlement agreement with a director, resulting in the issuance of 100,800 common shares to settle $25,200 of outstanding debt [2][3]. Group 1: Debt Settlement Details - The debt settlement agreement was dated March 9, 2026, and involved the issuance of shares at a deemed price of $0.25 per share [2]. - All securities issued under the settlement are subject to a hold period of four months and one day, expiring on July 27, 2026 [2]. Group 2: Related Party Transactions - The issuance of shares to Constantine Carmichel is classified as a Related Party Transaction under Multilateral Instrument 61-101 [3]. - The company relied on exemptions from formal valuation and minority approval requirements as the transaction did not exceed 25% of the company's market capitalization [3]. Group 3: Reporting and Compliance - The company did not file a material change report more than 21 days before the settlement closing due to the timing of the agreement and the desire to expedite the process for business reasons [4]. Group 4: Company Overview - FutureGen Industries Corp. is a Canadian venture capital, investment, and advisory firm focused on driving innovation and growth for its shareholders by investing in private and public companies with strong growth potential [5].