VANCOUVER, BC / ACCESSWIRE / February 16, 2024 / BioNxt Solutions Inc. ("BioNxt" or the "Company") (CSE:BNXT)(OTCQB:BNXTF)(FSE:BXT) is pleased to announce that it has finalized and executed a settlement agreement (the "Settlement Agreement") with a creditor of the Company (the "Creditor") to settle an aggregate of $282,415 in debt (the "Debt") accrued through a combination of equipment sold and services provided by the Creditor to the Company through the issuance of common shares of the Company (the "Shares"). An additional $100,000 of debt owing to the same Creditor will be satisfied by the Company through a cash payment.
The amount of the Debt will be settled in three instalments of $94,138 worth of Shares issued on or about the following dates:
(i) | February 26, 2024; |
(ii) | October 15, 2024; and |
(iii) | February 15, 2025. |
The number of Shares to be issued at each instalment shall equal the quotient obtained by dividing $94,138 by the market price of the Shares calculated as the closing price of the Shares on the Canadian Securities Exchange (the "Exchange") on the day prior to issuance. The issuance of the Shares is subject to receipt of Exchange approval.
All Shares issued in connection with the Settlement Agreement are subject to a statutory hold period of four months plus a day from the date of issuance of the Shares in accordance with applicable securities legislation.
The securities referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This news release does not constitute an offer for sale of securities for sale, nor a solicitation for offers to buy any securities.
About BioNxt Solutions Inc.
BioNxt Solutions Inc. is a bioscience accelerator focused on next-generation drug formulations and delivery systems, diagnostic screening tests, and new active pharmaceutical production and evaluation, including: precision transdermal and oral dissolvable drug formulations; rapid, low-cost infectious disease and oral health screening tests; and standardization and clinical evaluation of emerging active pharmaceutical ingredients for neurological applications. The Company has research and development operations in North America and Europe, with an operational focus in Germany, and is currently focused on regulatory approval and commercialization of medical products for European markets.
BioNxt Solutions Inc.
Hugh Rogers, CEO and Director
Email: info@bionxt.com
Phone: +1 780-818-6422
Cautionary Statement Regarding "Forward-Looking" Information
This news release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential", and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Forward-looking information in this news release include final Exchange approval for the issuance of the Shares. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include regulatory actions, market prices, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
SOURCE: BioNxt Solutions Inc.
View the original press release on accesswire.com
