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An announcement from Pegasus Mercantile ( (TSE:LOAN) ) is now available.
Pegasus Mercantile Inc. plans to settle CA$163,430 of outstanding indebtedness by issuing 3,268,600 restricted common shares at a deemed price of $0.05 to its creditors, with the securities subject to a four-month-and-one-day hold. Including this update, the company’s total debt settlement rises to CA$260,400, a move that reduces liabilities while modestly diluting existing shareholders and remains contingent on Canadian Securities Exchange approval.
The transaction includes CA$138,400 owed to the company’s directors and CEO for fees and consulting, making it a related-party deal under Canadian securities rules. Pegasus Mercantile intends to rely on exemptions from formal valuation and minority approval requirements on the basis that the related-party component does not exceed 25% of its market capitalization, streamlining the process while raising governance and oversight considerations for investors.
More about Pegasus Mercantile
Pegasus Mercantile Inc. is a prospect generator that provides advisory services to high-growth companies, offering technology, financial, operational and management assistance. The company is currently focused on the fast-growing market for global wellness products and novel consumer goods and services, positioning itself as a facilitator of emerging brands in these sectors.
YTD Price Performance: 40.0%
Average Trading Volume: 82,275
Technical Sentiment Signal: Sell
Current Market Cap: C$935.9K
Find detailed analytics on LOAN stock on TipRanks’ Stock Analysis page.