SuperBuzz Inc (TSE:SPZ) has released an update.
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SuperBuzz Inc. has successfully concluded its shares for debt settlement, converting over C$1.1 million of debt into nearly 37 million units and over 3 million common shares, with each unit consisting of a share and a warrant. Post-transaction, Yoel Yogev emerges as a new controlling shareholder, holding beyond the 20% threshold after gaining disinterested shareholder approval. The deal, classified as a ‘related party transaction’, adhered to regulatory exemptions given its valuation did not exceed 25% of the company’s market capitalization.
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