Wellfield Technologies Inc (TSE:WFLD) has released an update.
Wellfield Technologies Inc. has initiated a strategic move to convert an outstanding debt totaling $950,593 into equity, offering creditors shares instead of cash to preserve funds for business development. The debt conversion pertains to certain convertible debentures and consulting services payables, with over 11 million common shares priced at $0.06 and $0.0714 respectively, subject to regulatory approval and a standard hold period. This initiative underscores Wellfield’s focus on conserving capital while continuing to evolve as a leading fintech company leveraging blockchain technology.
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