Chemistree Technology (TSE:CHM) has released an update.
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Chemistree Technology Inc. has announced the approval from its debentureholders to proceed with a debt restructuring plan, which will see the company’s $6.837 million debt extinguished by converting it into common shares at $0.01 each. The anticipated restructuring is set to take effect around May 9, 2024, and will involve the issuance of 666.8 million new common shares, providing a fresh financial start for the investment company with diverse interests ranging from biotechnology to renewable energy.
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