Media Central Announces Debt Conversion
Toronto, Ontario--(Newsfile Corp. - January 15, 2021) - Media Central Capital Corporation (the "Corporation") is pleased to announce that it has negotiated various debt conversion agreements (collectively, the "Debt Agreements") with five (5) creditors (collectively, the "Creditors") of which four (4) are arm's length parties to the Corporation and one (1) is a non-arm's length party as he is a director and/or officer of the Corporation.
Pursuant to the terms of the Debt Agreements, the Corporation has agreed to issue an aggregate of 22,500,000 common shares ("Debt Shares") to the Creditors in exchange for the cancellation of 225,000 in debt owing to the parties.
The Debt Shares issued pursuant to the debt conversion are subject to a statutory four (4) month hold period.
About Media Central Corporation Inc.
Media Central Corporation Inc. is an alternative media company situated to acquire and develop high-quality publishing assets starting with the recent acquisition of Vancouver Free Press Corp., the purchase of NOW Communications Inc. and the launch of digital cannabis platform CannCentral.com and ESports outlet ECentralSports.com.
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/72170