Minnova (TSE:MCI) has released an update.
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Minnova Corp. plans to settle $800,000 of debt by issuing nearly 16 million common shares at $0.05 each, pending shareholder and regulatory approvals. This settlement includes converting over $700,000 of debt owed to the company’s CEO into shares, which would make him a significant shareholder with over 22% ownership.
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