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Simply Better Brands Corp. PKANF SBBC has agreed to issue 45,213 common shares 2613560 Ontario Inc., and 45,213 common shares to Prehistoric Petroleum Inc. In addition, the company has issued 148,925 common shares to Sebastien Centner for strategic advisory and consulting services to one of the company’s subsidiaries.
Shares for debt settlement with 2613560 Ontario
The total amount of indebtedness settled by this arrangement is $10,625, for interest owed during the period ended December 31, 2022 by the company to 2613560 Ontario pursuant to a convertible debenture dated August 10, 2022.
The company has agreed to 45,213 common shares in settlement of the December 31, 2022 interest payment at a deemed price of $0.235 per share.
Pursuant to the 261 debenture, interest shall be payable quarterly until the maturity date and subject to prior approval of the TSX Venture Exchange, such interest may be converted into common shares at the higher of 15 trading day volume weighted average price (“VWAP”) on each such applicable payment date, or the market price of the common shares of the company.
Shares for Debt Settlement with Prehistoric Petroleum
The total amount of indebtedness settled by this arrangement is $10,625, for interest owed during the period ended December 31, 2022 by the company to Prehistoric Petroleum pursuant to a convertible debenture dated August 10, 2022.
The company has agreed to issue 45,213 common shares in settlement of the December 31, 2022 interest payment at a deemed price of $0.235 per share.
Pursuant to the PPI debenture, interest shall be payable quarterly until the maturity date and subject to prior approval of the TSXV, such interest may be converted into common shares at the higher of the 15 trading day VWAP on each such applicable payment date, or the market price of the common shares of the company.
Shares for Services Issued to Advisor
The TSXV has accepted and the company has paid the first of two payments to the advisor for services rendered pursuant to the advisory agreement dated September 1, 2022. Pursuant to the agreement, the company has agreed to pay the first of two payments in the aggregate amount of $26,000 through the issuance of 158,925 common shares at a deemed price of CA$0.23452 per share.
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Image and article originally from www.benzinga.com. Read the original article here.