BnSellit Technology Inc. Settles Debt Owing to Hybrid Financial Ltd. for Shares
Calgary, Alberta--(Newsfile Corp. - July 13, 2022) - BnSellit Technology Inc. (CSE: BNSL) ("BnSellit" or the "Corporation") is pleased to announce that it has entered into the Amendment to Capital Markets Consulting and Marketing Agreement (the "Amendment") with Hybrid Financial Ltd. ("Hybrid") in relation to an aggregate amount owing of $353,334.00 for the services provided by Hybrid pursuant to the Capital Markets Consulting and Marketing Agreement dated as of October 5, 2021 (the "Agreement").
In settlement and full satisfaction of the debt in the amount of $353,334.00, the Corporation has agreed to issue to Hybrid 1,009,526 Class A Common shares in the capital of the Corporation (the "Common Shares") at a deemed issue price of $0.35 per Common Share.
The Agreement is in full force and Hybrid will continue to perform its services until the expiration of the Initial Period (as defined in the Agreement).
"I would like to thank the Hybrid Financial team and in particular its President and CEO Steve Marshall. Steve has been a strong supporter and believer in BnSellit from the beginning. Hybrid has provided and continues to provide valuable advice and guidance to help BnSellit achieve its goals. Their continued commitment to the success of the Company, and belief in its future success, is demonstrated by this agreement." said Tony Comparelli, CEO of BnSellit Technology Inc.
The issuance of the Common Shares pursuant to the Amendment is subject to approval from the Canadian Securities Exchange.
All of the Common Shares issued pursuant to the Amendment are subject to a statutory hold period of 4 month plus a day from the date of issuance of the Common Shares in accordance with applicable securities legislation. Additionally, the Common Shares issued to Hybrid are subject to additional escrow restrictions for a period of 2 months as set forth in the Amendment.
For further information, please contact:
Antonio Comparelli, Chief Executive Officer
Corey Heerensperger, Chief Financial Officer
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/130825