MONTRÉAL, April 15,
2024 /CNW/ - Geekco Technologies
Corporation (the "Corporation" or "Geekco")
(TSXV: GKO) has announced that in accordance with the terms and
conditions of the convertible debenture units issued on
April 14, 2021 (the "Debentures
Units 2021"), Geekco has agreed, subject to the approval of the
TSX Venture Exchange (the "TSXV"), to issue 384,614 class A
shares (the "Common Shares") as settlement of
payments of interest at a rate of 10% per year on an aggregate
principal amount of $250,000 of the
second tranche Debentures Units 2021 announced on April 14, 2021 and equal to $25,000 accrued between April 14, 2023 to
April 13, 2024 (the "Interest
Period"). The Common Shares will be issued at the deemed price
of $0.065 per Common Share, which is
equal to last closing price since it was higher than the volume
weighted trading price of the Common Shares on the TSXV for the
last 20 days prior to the applicable payment date. They will also
be subject to a statutory four-month hold period beginning as of
the date of issuance of the Common Shares.
ABOUT GEEKCO
Geekco is positioned at the forefront of technological solutions
that are evolving the new way of doing marketing while stimulating
and energizing the economy of each city and each neighborhood by
making consumers and shops interact like never before. Its FlipNpik
application allows users to discover businesses around them in real
time using the interactive map, access exclusive rewards and even
find a job. Shops thus increase their traffic and their visibility
while recruiting their future employees. All this in the same
app.
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.
SOURCE Geekco Technologies inc
