VANCOUVER, BC / ACCESSWIRE / June 11, 2019 / Evolution Global Financial Corp. (formerly, 1151589 B.C. Ltd.) ("EGF" or the "Company") announces settlement of $69,000 in debts in exchange for 3,450,000 common shares from treasury at a fair value of $0.02 per share.
Terms of Debt Settlements
As of June 11, 2019, the Company has entered into debt settlement and subscription agreements to settle a total of $69,000 in debts for past services in exchange for 3,450,000 common shares at a fair value of $0.02 per share, as ratified by the Board of Directors.
Included in the debt settlements were the following related party settlements for past services and amounts owing:
- 2,300,000 shares were issued to settle $46,000 owing to an entity that is 50% beneficially controlled/owned by Kevin Smith, CEO and director
- 500,000 shares were issued to settle $10,000 owing to an entity controlled by J. Scott Munro, CFO and director.
- 50,000 shares issued to settle $1,000 owing to Ron Miles, director
About Evolution Global Financial
Evolution Global Financial is a business seeking to develop or acquire enterprise mobile, ecommerce, and in-store solutions.
For further information please contact:
Kevin Smith, CEO & Director E-mail: ks@x1x.io
Disclaimer: The Company's shares are not traded on any securities exchange. Further, no securities exchange has reviewed the completeness, adequacy or accuracy of this release. This news release may contain forward-looking statements based on assumptions and judgments of management regarding future events or results. Such statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements. The company disclaims any intention or obligation to revise or update such statements.
Forward-Looking Information: This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of EGF. Forward-looking information is based on certain key expectations and assumptions made by the management of EGF. Although EGF believes that the expectations and assumptions on which such forward-looking information is based on are reasonable, undue reliance should not be placed on the forward-looking information because EGF can give no assurance that they will prove to be correct. Forward-looking statements contained in this press release are made as of the date of this press release. EGF disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
SOURCE: Evolution Global Financial Corp.
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