Playgon Games (TSE:DEAL) has released an update.
Playgon Games Inc. announces its plan to settle $124,275 of debt through the issuance of over 6 million common shares, with the majority going to insiders as part of an interest payment settlement on previously issued debentures. The transaction is pending TSX Venture Exchange approval and is intended to leverage an exemption from minority shareholder approval due to its value not exceeding 25% of the company’s market capitalization.
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