Nepra Foods (TSE:NPRA) has released an update.
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Nepra Foods Inc. has agreed to convert a US$950,000 debt into equity, issuing 26,445,572 Common Shares at C$0.05 each to the lender, who is also an insider shareholder. The debt conversion will settle all outstanding loan obligations before their maturity on July 31, 2024, and release the company from further debts under the current loan agreement. This strategic financial move is expected to close within the policies of the Canadian Securities Exchange.
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