SBD Capital (TSE:SBD) has released an update.
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SBD Capital Corp. has successfully completed a debt settlement by issuing over 3 million common shares at $0.05 each to clear $158,324.92 of debt, a move aimed at improving the company’s financial stance. The transaction included shares allocated to an insider, and was conducted with exemptions under specific financial regulations due to the company’s financial struggles. All directors, except for one, approved the settlement without the formation of a special committee.
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