(TheNewswire)
July 23, 2024 – TheNewswire – Vancouver, British Columbia – Right Season InvestmentsCorp. (TSXV: LITT ), (“ Right Season ” or the “ Company ”) announces that it has entered into a debtsettlement agreement with a director of the Company (the“Creditor”) dated July 23, 2024 (the “Settlement Agreement”)pursuant to which the Company has agreed to issue the Creditor 37,188common shares of the Company (each, a “Share” and, collectively,the “Shares”) at a deemed price of $0.96 per Share in settlementof $35,700 of outstanding indebtedness (the “Settlement”). TheSettlement is s ubject to approval of theTSX Venture Exchange.
T hesecurities issued constitute a Related Party Transaction within themeaning of Multilateral Instrument 61-101 – Protection of Minority Security Holdingsin Special Transactions (“MI 61-101”). TheCompany relied on exemptions from the formal valuation and minorityapproval requirements of MI 61-101 contained in sections 5.5(a) and5.7(1)(a) of MI 61-101, as neither the fair market value of theShares, nor the consideration paid for the Shares, exceeded 25% of theCompany’s market capitalization.
The Company did not file a material change report morethan 21 days before the expected closing of the Settlement because thedetails were not settled until shortly prior to closing of theSettlement and the Company wished to close on an expedited basis forbusiness reasons.
About Right Season Investments Corp.
Right Season Investments Corp. is a Canadian VentureCapital, Investment and Advisory Firm that strives to actively driveinnovation and accelerate growth for its shareholders. Right Seasoninvests capital into private and public companies that offer excellentgrowth opportunities.
Contact:
Tyler Lewis, Director and CEO
Email: investor@rightseasoninvestmentscorp.com
Cautionary and Forward-LookingStatements
Neither the TSX Venture Exchange norits Regulation Services Provider (as that term is defined in thepolicies of the TSX Venture Exchange) accept responsibility for theadequacy or accuracy of this release.
This news release contains“forward-looking information” within the meaning of applicablesecurities laws, including statements regarding the issuance of theShares and obtaining regulatory approvals. Although the Companybelieves that the expectations reflected in the forward-lookinginformation are reasonable, there can be no assurance that suchexpectations will prove to be correct. Readers are cautioned not toplace undue reliance on forward-looking information. Suchforward-looking statements are subject to risks and uncertainties thatmay cause actual results, performance and developments to differmaterially from those contemplated by these statements depending on,among other things, that the Company's plans and prospects will varyfrom those stated in this news release and that the Company may not beable to carry out its business plans as expected. Except as requiredby law, the Company expressly disclaims any obligation and does notintend to update any forward-looking statements or forward-lookinginformation in this news release. Although the Company believes thatthe expectations reflected in the forward-looking information arereasonable, there can be no assurance that such expectations willprove to be correct. Accordingly, readers should not place unduereliance on forward-looking information. The statements in this newsrelease are made as of the date of this release.
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