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FogChain Corp. (CSE: FOG.X) (OTCB: FOGCF) (FRA: MUU3) (the " Company " or " FogChain "), announces that the Company intends to settle a total of $85,000 of debt (the " Debt ") owed to an administrative services provider of the Company, through the issuance of an aggregate of 1,545,454 common shares of the Company (the " Debt Shares ") at a deemed price of $0.055 per Debt Share (the " Debt Settlement ").
All the Debt Shares issued in connection with the Debt Settlement are subject to a statutory hold period of four months plus a day from the date of issuance, in accordance with applicable securities legislation.
About FogChain Corp.
FogChain was previously seeking to be an end-to-end software development life cycle (SDLC) and quality assurance solutions provider, but the Company's business is now limited to identifying and evaluating assets or businesses for an acquisition.
Learn more at www.FogChainInc.com
Forward-Looking Information
This press release contains forward-looking statements. Forward-looking statements can be identified by the use of words such as, "anticipates", "expects", "is expected", "intends", "believes", or variations of such words and phrases or state that certain actions, events or results "may" or "will" be taken, occur or be achieved. Forward-looking statements include those relating to the settlement of the Debt and the corresponding issuance of the Debt Shares. Forward-looking statements are not a guarantee of future performance and are based upon a number of estimates and assumptions of management in light of management's experience and perception of trends, current conditions and expected developments. Actual results, performance or achievement could differ materially from that expressed in, or implied by, any forward-looking statements in this press release, and, accordingly, undue reliance should not be placed on any such forward-looking statements and they are not guarantees of future results. Forward-looking statements involve significant risks, assumptions, uncertainties and other factors, including, but not limited to, the equity markets generally, that may cause actual future results or anticipated events to differ materially from those expressed or implied in any forward-looking statements. Except as required by law, FogChain undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.
The Canadian Securities Exchange (" CSE ") nor its market regulator does not accept responsibility for the adequacy or accuracy of this news release. The CSE has in no way passed upon the merits of the proposed Debt Settlement and has neither approved nor disapproved the contents of this news release.
SOURCE FogChain Corp.
View original content: https://www.newswire.ca/en/releases/archive/April2021/15/c6145.html
