ESTW.H Eastower Wireless Inc

BOCA RATON, Fla., Nov. 21, 2023 /CNW/ - EasTower Wireless Inc. (the "Company") (TSXV: ESTW.H) announces it has raised $29,985 pursuant to the issuance of an unsecured non-convertible promissory note to an arm's length lender. The financing was completed in accordance with a partial revocation order dated August 25, 2023 issued under the securities ‎legislation of British Columbia and Ontario whereby the Company is permitted to complete a debt financing of $60,000 through the issuance of on demand unsecured promissory notes accruing interest at 8.5% per annum.

The purpose of the financing is to raise funds to prepare and file all outstanding financial statements and continuous disclosure records, pay for certain accounts payable and ongoing general and administrative expenses, and obtain sufficient working capital to ensure the continuity of the Company during the period that the failure-to-file cease trade order (the "FFCTO") issued by the ‎regulator or securities regulatory authority in each of British Columbia and Ontario respectively on May ‎‎8, 2023, remains in effect, in each case until the Company is in a position to raise capital from other sources upon the issuance of a full revocation order in respect of the FFCTO.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

SOURCE EasTower Wireless Inc.