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Chemistree Technology Inc. announces the approval of a restructuring transaction by its board of directors to settle outstanding 10% senior unsecured convertible debentures in exchange for common shares. The transaction involves issuing 666,800,000 Common Shares at a price of $0.01 per share to Debentureholders. The Company anticipates the transaction to be effective around May 9, 2024. The Canadian Securities Exchange Listings Committee has approved the Company's reliance on an exception to shareholder approval requirements due to financial difficulties.
Chemistree Technology Inc. announces the results of its annual general and special meeting of shareholders. All director nominees were elected, including Douglas E. Ford, Karl Kottmeier, Adam B. Ho, and Robin Gamley. The shareholders approved the appointment of Davidson & Company LLP as auditor but did not approve setting the number of directors at four, ratifying unallocated options, or authorizing a share consolidation.
Chemistree Technology Inc. (CSE: CHM) debentureholders have approved a debt restructuring plan that involves repaying $6,837,000 in senior unsecured convertible debentures by issuing common shares at $0.01 per share. The restructuring transaction is expected to be effective around May 9, 2024, subject to potential delays.
