DXI Capital Completes 2nd Tranche of Debt Settlements

DXI Capital Corp. (TSXV: DXI.H) (“DXI” or the “Company”), further to the Company’s news release dated October 23, 2020, the Company announces that it has issued 100,153 shares at a deemed price of $0.475 per share to settle a total of $47,572.68 in debt owed to various creditors. The shares are subject to a statutory hold period expiring on March 20, 2021.

The remaining balance of 355,894 shares will be issued upon receipt of confirmation by the Company that one of the former officers has made the required tax remittances on the salary debt being settled.

On behalf of: The Board of Directors of DXI Capital Corp.
Robert L Hodgkinson, CEO.
rhodgkinson@dxicap.com
Phone: 604-638-5055

About DXI Capital Corp.

DXI Capital Corp. is currently publicly traded on NEX (DXI.H). It has recently divested itself of all hydrocarbon interests through the disposal of both its operating subsidiaries, maintaining a usable ~$50MM Capital/ NOL tax loss in DXI Capital, the public entity.

The company is now pursuing alternative positive tailwind business interests. Should there be an opportunity you think DXI Capital should consider, please contact Mr. Hodgkinson by email above.

Statements Regarding Forward-Looking Information: Forward-looking statements in this press release include, but are not limited to, statements regarding the future plans of the Company. Forward-looking statements are based on current expectations, estimates and projections that involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those anticipated by DXI Capital Corp. and described in the forward-looking statements. These risks, uncertainties and other factors include, but are not limited to, adverse general economic conditions, government regulation and foreign political risks, fluctuations in the exchange rate between Canadian and other currencies. Additional information on these and other factors, which could affect DXI Capital’s future plans will be filed with Canadian and United States securities regulatory authorities as these plans develop. We assume no obligation to update forward-looking statements should circumstances or management’s estimates or opinions change unless otherwise required under securities law.

The Shares have not been registered under the U.S. Securities Act of 1933, as amended, or applicable state securities laws, and may not be offered or resold to persons in the United States absent registration or an exemption from such registration requirements. This press release does not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/68651