Clean Go Innovations Inc Announces Debt Settlement
March 18, 2022 – TheNewswire – Calgary, AB. – Cleango Innovations Inc. announces that it has reached an agreement with some of its creditors to issue a total of $116,750 in unpaid debt.
In settlement of the Debt, the Company will issue 183,409 Shares (“Share of debt“) at a deemed price of $0.55 and a total of 31,750 Units at a deemed price of $0.50, which consist of one common share and one-half share warrant, each full warrant for one additional share at an exercise price of $0.60 for a period of 12 months. The Company did not file a material change report more than 21 days prior to the scheduled closing of the Debt Shares Transaction as the details and amounts of debts settled under the transaction have not been finalized. than closer to closing and the Company wished to close the transaction. as soon as possible, which the Company deems reasonable as it wishes to improve its financial situation by reducing its accrued liabilities as soon as possible.
All Debt Shares issued pursuant to the Debt Conversion will be subject to a four (4) month hold period.
The Company also wishes to announce that it has granted a total of 87,500 options pursuant to the terms of its option plan to a consultant of the Company. The options have an exercise price of $0.60 and a term of 5 years.
For more information regarding the Operation, please contact:
Chief Executive Officer
CleanGo Innovations Inc.
This press release may contain forward-looking statements and forward-looking information (collectively, “forward-looking statements”) within the meaning of applicable Canadian and United States securities laws. Forward-looking statements can often be identified by words such as “will”, “plans”, “expects”, “may”, “intends”, “anticipates”, “believes”, proposes” or variations of these words, including negative variations thereof and phrases referring to certain actions, events or results which may, could, might or will occur or be undertaken or achieved. Actual results could differ from those projected in the forward-looking statements due to many factors, including risks and uncertainties relating to general economic, market or business conditions or changes in laws, regulations and policies affecting operations. of the society. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly, are cautioned not to place undue reliance on forward-looking statements due to the inherent uncertainty in such statements. All forward-looking statements included in this press release are made as of the date hereof, and the Company does not intend to update or revise any forward-looking statements except as expressly required by law.