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The latest update is out from MiMedia Holdings Inc ( (TSE:MIM) ).
MiMedia Holdings Inc. has announced a debt settlement agreement where its CAD$1,060,822 debt, including interest, will be converted into 3,928,970 subordinate voting shares. This move aims to enhance the company’s financial condition without creating a new control person, and it involves adjusting the expiry date of associated share purchase warrants. The transaction, pending TSX Venture Exchange approval, is seen as a strategic step to conserve cash for expansion and capitalize on new business opportunities with large device distribution companies.
More about MiMedia Holdings Inc
MiMedia Holdings Inc. operates in the consumer cloud platform industry, providing services that allow users to securely store and access personal media across devices and operating systems. The company distinguishes itself with features for media organization, private sharing, and content re-engagement, partnering globally with smartphone makers and telecom carriers to offer recurring revenue streams and improved customer retention.
YTD Price Performance: 36.54%
Average Trading Volume: 84,950
Technical Sentiment Consensus Rating: Strong Sell
Current Market Cap: C$24.05M
See more data about MIM stock on TipRanks’ Stock Analysis page.