KMT-Hansa Updates Debt Conversion
16 October 2024 - 9:51AM
KMT-Hansa Corp. (the “Corporation”) would like to announce that,
further to its press release of October 2, 2024, several creditors
have expressed an interest to crystallize their debt as a
convertible debenture (collectively, the “Debentures”). Each
Debenture will entitle the creditors to acquire one (1) common
share in the capital of the Corporation at an exercise price of
$0.035 for a period of twelve (12) months from date of issuance.
The remaining debt will be converted into common
shares in the capital of the Corporation at a price of $0.035 per
share. The exact number of shares to be issued pursuant to the debt
conversion (as set out in its press release of October 2, 2024) and
upon the exercise of the Debentures will be set out in a press
release announcing the closing of the debt conversions.
All common shares issued pursuant to the debt
conversion and upon the exercise of the Debentures will be subject
to a statutory four (4) month hold period.
For further information please contact:
Jay VieiraDirector and Chief Executive Officer
Email: kmthansa@gmail.com
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Forward Looking Statements
This news release contains “forward-looking
statements” within the meaning of the United States Private
Securities Litigation Reform Act of 1995 and applicable Canadian
securities legislation. Generally, these forward-looking statements
can be identified by the use of forward-looking terminology such as
“plans”, “anticipated”, “expects” or “does not expect”, “is
expected”, “budget”, “scheduled”, “estimates”, “forecasts”,
“intends”, “anticipates” or “does not anticipate”, or “believes”,
or variations of such words and phrases or state that certain
actions, events or results “may”, “could”, “would”, “might” or
“will be taken”, “occur” or “be achieved”. KMT-Hansa is subject to
significant risks and uncertainties which may cause the actual
results, performance or achievements to be materially different
from any future results, performance or achievements expressed or
implied by the forward-looking statements contained in this
release. KMT-Hansa cannot assure investors that actual results will
be consistent with these forward-looking statements and KMT-Hansa
assumes no obligation to update or revise the forward-looking
statements contained in this release to reflect actual events or
new circumstances.
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