Toggle3D.Ai Inc Announces Closing of Share Issuance to CEO Evan Gappelberg

Rhea-AI Summary

Toggle3D.Ai (CSE:TGGL)(OTC:TGGLF) has announced the completion of a share issuance to CEO Evan Gappelberg, consisting of 2,566,666 common shares at a deemed price of CAD$0.06 per share. The issuance was made in consideration of outstanding indebtedness owing to the CEO.

The issued shares are subject to a four-month holding period ending June 21, 2025, in compliance with securities regulations. The company states this move is part of their strategy to align leadership interests with shareholders and promote long-term value creation.

Positive

• Debt conversion to equity demonstrates CEO's confidence in company
• Alignment of management interests with shareholders through equity ownership

Negative

• Share issuance indicates company had outstanding debt to CEO
• Potential dilution of existing shareholders through new share issuance

TORONTO, ON / ACCESS Newswire / February 21, 2025 / Toggle3D.Ai Inc. (CSE:TGGL)(OTC PINK:TGGLF)(FSE:Q0C) ("Toggle" or the "Company") is pleased to announce the successful closing of the issuance of 2,566,666 common shares to its Chief Executive Officer, Evan Gappelberg, in consideration of outstanding indebtedness owing. The shares were issued at a deemed price of Cdn$0.06 per share and comprise part of Toggle's continued strategy to align the interests of its leadership with those of the shareholders, driving long-term value and growth for the Company.

The shares issued to Mr. Gappelberg are subject to a four-month holding period in accordance with applicable securities regulations, ending 21 June 2025. This closing marks an important step in the Company's ongoing efforts to incentivize and retain top leadership talent while reinforcing the shared commitment to driving the business forward.

For further information, please contact:

Investor Relations Contact
Toggle3D.ai
Evan Gappelberg CEO/Director
866-ARITIZE (274-8493)

Forward-looking Statements

The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. Certain information contained herein may constitute "forward-looking information" under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as, "will be" or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors. There can be no assurance that such statements will prove to be accurate, as future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.

SOURCE: Toggle3D.AI Inc.

View the original press release on ACCESS Newswire

FAQ

How many shares did Toggle3D.Ai (TGGLF) issue to CEO Evan Gappelberg?

Toggle3D.Ai issued 2,566,666 common shares to CEO Evan Gappelberg.

What was the price per share for TGGLF's February 2025 share issuance?

The shares were issued at a deemed price of CAD$0.06 per share.

When does the holding period end for TGGLF's shares issued to the CEO?

The four-month holding period for the issued shares ends on June 21, 2025.

Why did Toggle3D.Ai (TGGLF) issue new shares to its CEO?

The shares were issued in consideration of outstanding indebtedness owing to CEO Evan Gappelberg and to align leadership interests with shareholders.