EASTOWER ANNOUNCES FFCTO, PARTIAL REVOCATION ORDER AND INITIAL DEBT FINANCING CLOSING
22 Novembre 2023 - 1:45AM
PR Newswire (Canada)
BOCA
RATON, Fla., Nov. 21,
2023 /CNW/ - EasTower Wireless Inc. (the
"Company") (TSXV: ESTW.H) announces it has raised
$29,985 pursuant to the issuance of
an unsecured non-convertible promissory note to an arm's length
lender. The financing was completed in accordance with a partial
revocation order dated August 25,
2023 issued under the securities legislation of
British Columbia and Ontario whereby the Company is permitted to
complete a debt financing of $60,000
through the issuance of on demand unsecured promissory notes
accruing interest at 8.5% per annum.
The purpose of the financing is to raise funds to prepare and
file all outstanding financial statements and continuous disclosure
records, pay for certain accounts payable and ongoing general and
administrative expenses, and obtain sufficient working capital to
ensure the continuity of the Company during the period that the
failure-to-file cease trade order (the "FFCTO") issued by
the regulator or securities regulatory authority in each of
British Columbia and Ontario respectively on May 8, 2023, remains
in effect, in each case until the Company is in a position to raise
capital from other sources upon the issuance of a full revocation
order in respect of the FFCTO.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this press release.
SOURCE EasTower Wireless Inc.
Copyright 2023 Canada NewsWire
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