WPD Pharmaceuticals (TSE:WBIO) has released an update.
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WPD Pharmaceuticals has reached an agreement with its CEO, a director, and a former director to convert 60% of its debt owed to them into equity, issuing over 1.2 million common shares at $0.05 each. Additionally, the company settled debt with a third-party creditor by issuing 100,000 common shares at the same price. These shares for debt transactions, considered related party transactions, comply with securities laws and will be held for a four-month period before they can be traded.
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