TORONTO, Oct. 15, 2024 (GLOBE NEWSWIRE) -- KMT-Hansa Corp. (the “Corporation”) would like to announce that, further to its press release of October 2, 2024, several creditors have expressed an interest to crystallize their debt as a convertible debenture (collectively, the “Debentures”). Each Debenture will entitle the creditors to acquire one (1) common share in the capital of the Corporation at an exercise price of $0.035 for a period of twelve (12) months from date of issuance.
The remaining debt will be converted into common shares in the capital of the Corporation at a price of $0.035 per share. The exact number of shares to be issued pursuant to the debt conversion (as set out in its press release of October 2, 2024) and upon the exercise of the Debentures will be set out in a press release announcing the closing of the debt conversions.
All common shares issued pursuant to the debt conversion and upon the exercise of the Debentures will be subject to a statutory four (4) month hold period.
For further information please contact:
Jay Vieira
Director and Chief Executive Officer
Email: kmthansa@gmail.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
This news release contains “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “anticipated”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. KMT-Hansa is subject to significant risks and uncertainties which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements contained in this release. KMT-Hansa cannot assure investors that actual results will be consistent with these forward-looking statements and KMT-Hansa assumes no obligation to update or revise the forward-looking statements contained in this release to reflect actual events or new circumstances.
