Cansortium Announces Shares For Debt Settlement
Portfolio Pulse from Vuk Zdinjak
Cansortium Inc. has issued 2 million common shares to certain directors in exchange for the cancellation of $162,500 of director fees. The debt shares are issued at a price equal to the closing market price of the common shares on June 1, 2023, being $0.08.
June 05, 2023 | 12:34 pm
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Cansortium issued 2 million common shares to directors for debt settlement, canceling $162,500 of director fees.
The issuance of common shares for debt settlement will help Cansortium reduce its accrued liabilities. However, the short-term impact on the stock price is uncertain as the market may have mixed reactions to this news. Some investors may view it as a positive step towards reducing debt, while others may see it as dilution of existing shares.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 100