Core Viewpoint - Everyday People Financial Corp. has successfully closed a shares-for-debt transaction to settle approximately $1.4 million of outstanding debt, enhancing its balance sheet by reducing liabilities and preserving cash resources for operations and growth [1][3]. Debt Settlement Details - The company issued 2,223,651 common shares at a deemed price of $0.63 per share to settle the debt [1]. - Prior debt settlements with EAM included $2 million and $4 million, settled through the issuance of 2,439,024 shares at $0.82 per share and 3,636,364 shares at $1.10 per share, respectively [2]. - After the latest settlement, EAM and Gordon Reykdal will hold approximately 21% of the company's outstanding shares, an increase from 20% [4]. Related Party Transaction - The issuance of shares to EAM is classified as a "related party transaction" under Multilateral Instrument 61-101, with the company relying on exemptions from formal valuation and minority shareholder approval requirements [5]. Voting Trust Agreement - A voting trust agreement was established on August 31, 2022, involving Gordon Reykdal, EAM, and Odyssey Trust Company, allowing the trustee to vote shares beneficially owned by Reykdal and his spouse [6]. Restricted Share Units - The Board of Directors approved the grant of 225,000 restricted share units (RSUs) to an officer, which will vest one year from the date of grant [7]. Company Overview - Everyday People Financial Corp. is a technology-driven financial services provider established in 1988, with over 650 employees operating in the UK and Canada [10]. - The company focuses on Revenue Cycle Management and Financial Services, offering digital tools and credit access programs without lending money [11]. - The mission is to provide affordable and responsible financial solutions to help individuals and businesses manage money better [12].