PharmAla Announces Private Placement and Concurrent Debt Settlement
The Company also announces that the Company intends to settle debt in the aggregate amount of $108,000.00 owing to Aaron Logan, a consultant of the Company who advises the Company on intellectual property and commercialization matters (the “Debt Settlement”).
- The Company also announces that the Company intends to settle debt in the aggregate amount of $108,000.00 owing to Aaron Logan, a consultant of the Company who advises the Company on intellectual property and commercialization matters (the “Debt Settlement”).
- Pursuant to the terms of the Debt Settlement, the Company plans to issue Mr. Logan 600,000 Common Shares at a deemed price of $0.18 per Common Share.
- None of the debt includes payment for Investor Relations Activities (as such term is defined in the polices of the CSE).
- The Common Shares proposed to be issued in connection with the Debt Settlement will be subject to a statutory hold period of four months and one day from the date of issuance.