Goat Announces Shares for Debt Transaction

Rhea-AI Summary

Goat Industries Ltd. (CSE: GOAT) announced a debt settlement of $34,150 through the issuance of 683,000 common shares to a creditor for advisory services, priced at $0.05 per share. This strategic move allows the company to conserve cash for potential investments across various sectors. Additionally, GOAT issued 4,000,000 shares to former shareholders of Kojo Pet Performance Inc. as part of a performance milestone achievement. GOAT focuses on investing in high-potential companies to maximize returns.

Positive

• Issuance of shares for debt settlement conserves $34,150 in cash for future investments.
• Successful issuance of 4,000,000 shares related to performance milestone enhances investor confidence.

Negative

• None.

VANCOUVER, British Columbia, Oct. 07, 2022 (GLOBE NEWSWIRE) -- Goat Industries Ltd. (the “Company” or “GOAT”) (CSE: GOAT), advises that its board of directors has approved the settlement of $34,150 in debt (the “Debt Settlement”) through the issuance of 683,000 common shares (“Shares”) of the Company to one creditor for strategic advisory and business consulting services. The Shares will be issued at a deemed price of $0.05 per Share and will be subject to a four month hold period which will expire on the date that is four months and one day from the date of issue. The Company agreed to satisfy this outstanding indebtedness with Shares to preserve the Company’s cash for continued investments in high-potential companies which operate across a variety of sectors.

Furthermore, GOAT reports it has issued 4,000,000 common shares in the capital of the Company to the former shareholders of Kojo Pet Performance Inc. (“Kojo”) in conjunction with the achievement of a performance milestone.

ABOUT GOAT INDUSTRIES

GOAT Industries is an investment issuer focused on investing in high-potential companies operating across a variety of sectors. The paramount goal of the Company will be to generate maximum returns from its investments.

The Company’s final prospectus, financial statements and management's discussion and analysis, among other documents, are all available on its profile page on SEDAR at www.sedar.com.

The CSE has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

CAUTIONARY STATEMENT REGARDING “FORWARD-LOOKING” INFORMATION

This news release contains certain forward-looking statements within the meaning of such statements under applicable securities law. Forward-looking statements are frequently characterized by words such as "anticipates", "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed", "positioned" and other similar words, or statements that certain events or conditions "may" or "will" occur. The Company has provided the forward-looking statements in reliance on assumptions that it believes are reasonable at this time. All such forward-looking statements involve substantial known and unknown risks and uncertainties (including those risk factors identified in the Company’s prospectus dated February 15, 2022), certain of which are beyond the Company’s control. Such risks and uncertainties include, without limitation, delays resulting from or inability to obtain required regulatory approval. The reader is cautioned that the assumptions used in the preparation of the forward-looking statements may prove to be incorrect and the actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements. Accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do, what benefits, including the amount of proceeds, the Company will derive therefrom. Readers are cautioned that the foregoing list of factors is not exhaustive. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.

CONTACT INFORMATION

GOAT Industries Ltd.
Investor Relations
Email: alex@goatindustries.co
Phone: 604-687-2038

FAQ

What recent actions has Goat Industries Ltd. (BGTTF) taken regarding debt settlement?

Goat Industries Ltd. has settled $34,150 in debt by issuing 683,000 common shares to a creditor for advisory services.

What was the price per share for the debt settlement by Goat Industries (BGTTF)?

The shares were issued at a deemed price of $0.05 per share.

How many shares were issued to Kojo Pet Performance Inc. shareholders by Goat Industries (BGTTF)?

Goat Industries issued 4,000,000 common shares to the former shareholders of Kojo Pet Performance Inc.

What is the investment strategy of Goat Industries (BGTTF)?

Goat Industries focuses on investing in high-potential companies across various sectors to maximize returns.

What is the hold period for the shares issued in the debt settlement by Goat Industries (BGTTF)?

The shares will be subject to a four-month hold period from the date of issue.