Zefiro Methane Improves Balance Sheet with Shares for Debt Settlements

Core Viewpoint - Zefiro Methane Corp. has entered into debt settlement agreements to eliminate a total of $674,846 CAD in outstanding debt by issuing common shares at a price of $0.44 CAD per share [1][2]. Debt Settlement Details - The debt settlements will result in the issuance of 1,533,741 common shares to the creditors as part of the agreement [2]. - The company views these debt settlements as a strategic move to strengthen its balance sheet and reduce overall debt obligations [2]. Related Party Transaction - Catherine Flax, a director and officer of the company, is the spouse of one of the creditors involved in the debt settlement, settling USD $468,000 in outstanding debt [4]. - The transaction is classified as a "related party transaction" under Multilateral Instrument 61-101, and the company relied on exemptions from formal valuation and minority approval requirements [4]. - The board of directors approved the transaction, with Ms. Flax abstaining from the deliberations [4]. Company Overview - Zefiro Methane Corp. specializes in methane abatement and aims to be a key player in active sustainability [5]. - The company is focused on cleaning up air, land, and water sources affected by methane leaks and has developed a monetization solution for the methane abatement marketplace [5]. - Zefiro aims to generate long-term economic, environmental, and social returns through its operations [5].