First Responder Announces Proposed Share Consolidation and Debt Settlement Agreements
Vancouver, British Columbia--(Newsfile Corp. - November 22, 2022) - First Responder Technologies Inc. (CSE: WPN) (OTC Pink: WPNNF) (FSE: 3WK) ("First Responder" or the "Company"), announces that it intends to consolidate its common shares on a twenty-five (25) for one (1) basis (the "Share Consolidation"). The Company currently has 67,859,176 common shares issued and outstanding. Following the proposed Share Consolidation, the Company will have approximately 2,714,367 common shares issued and outstanding prior to rounding for fractional shares.
The Share Consolidation was approved by the board of directors of the Company, but remains subject to the approval of the Canadian Securities Exchange (the "CSE"). The Company will issue a further news release upon receiving CSE approval, announcing the effective date of the Share Consolidation.
The Company also announces the debt statement of, in the aggregate, $1,200,000 to debt holders (the "Debt Holders"), which will consist of the issuance of, in the aggregate, 12,000,000 common shares of the Company at a deemed price of $0.10 per share, on a post-consolidation basis.
All securities issued in connection with the Debt Settlement are subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation.
On behalf of the Board of Directors,
Kulwant Malhi, CEO
First Responder Technologies Inc.
10589 Ladner Trunk Road
Delta, BC. V4G 1K2
About First Responder Technologies Inc.
First Responder is a technology development company that commercializes academic and internally developed intellectual property for use in the public safety market. For more information visit: www.firstrespondertech.com or follow us on Twitter, LinkedIn and Facebook.
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Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this news release
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