New Frontier Ventures Inc. Completes Debt to Equity Conversion

July 07, 2023 8:56 PM EDT | Source: New Frontier Ventures Inc.

Toronto, Ontario--(Newsfile Corp. - July 7, 2023) - New Frontier Ventures Inc. (the "Company") (CSE: VFI.X) announced today that the Company has completed the conversion of certain indebtedness of the Company in an aggregate amount of $211,994 in exchange for 4,239,880 common shares of the Company at $0.05 per share (the "Debt to Equity Conversion"), a transaction that was previously announced on June 28, 2023.

The conversion price was $0.05 per share. All of the securities issuable in connection with the transaction are subject to a hold period ending November 8, 2023.

Certain insiders of the Company participated in the Debt to Equity Conversion, and the Debt to Equity Conversion was approved by minority shareholders of the Company in accordance with Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions.

All such business matters are more particularly described in the Company's Information Circular dated May 22, 2023 and the Company's news release dated June 28, 2023.

For further information, please contact:

Vikas Ranjan, President, New Frontier Ventures Inc.

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