(TheNewswire)
Calgary, AB - TheNewswire - October 24, 2023 - CleanGo Innovations Inc. (CSE:CGII) (OTC:SOFSF)(FRA:APO2) (“ CleanGo ”) or (the“ Company ”) announces that it has agreed with certain of itscreditors to issue an aggregate of $100,000 in outstanding debt.
In settlement of the Debt the Company will issue266,666 common shares at a deemed price of $0.375 . The Company did notfile a material change report more than 21 days before the expectedclosing of the shares for debt transaction as the details and amountsof debts settled under the transaction were not finalized until closerto the closing and the Company wished to close the transaction as soonas practicable, which the Company deems reasonable as it wishes toimprove its financial position by reducing its accrued liabilities assoon as possible.
All Debt Shares issued pursuant to the debt conversionwill be subject to a four (4) month hold period.
Further Information
For further information regarding the Transaction, please contact:
Anthony Sarvucci
Chief Executive Officer
CleanGo Innovations Inc.
Forward-looking Information
This news release may containforward-looking statements and forward-looking information(collectively, “forward-looking statements”) within the meaning ofapplicable Canadian and U.S. securities legislation. Forward-lookingstatements can often be identified by words such as “will”,“plans”, “expects”, “may”, “intends”,“anticipates”, “believes”, proposes” or variations of suchwords including negative variations thereof and phrases that refer tocertain actions, events or results that may, could, would, might orwill occur or be taken or achieved. Actual results could differ fromthose projected in any forward-looking statements due to numerousfactors, including risks and uncertainties relating to generaleconomic, market or business conditions or changes in laws,regulations and policies affecting the Company’s operations.Investors are cautioned that forward-looking statements are notguarantees of future performance or events and, accordingly arecautioned not to put undue reliance on forward-looking statements dueto the inherent uncertainty of such statements. Any forward-lookingstatements included in this news release are made as of the datehereof and the Company does not intend to update or revise anyforward-looking statements, except as expressly required by law.
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