79North (TSE:JQ) has released an update.
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79North Inc. has announced a shares for debt transaction, issuing over 1.5 million shares to settle $157,282.41 of debt owed to creditors, including shares to related parties under specific exemptions without requiring formal valuation or minority shareholder approval. The transaction is set to close on October 10, 2024, subject to regulatory approvals, and is aimed at allowing the company to continue its business and reduce liabilities.
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