Freight Technologies Cancels $1.3M in Debt

Freight Technologies (FRGT) has released an update.

Freight Technologies, Inc. has agreed to cancel over $1.3 million in outstanding promissory notes held by Freight Opportunities, LLC. The cancellation is in exchange for the increased pro forma valuation of the company’s ordinary shares, which is anticipated to be of benefit to the holder. Both parties have executed this agreement, relinquishing the holder’s right to the loan amount and releasing the company from further obligations.

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