ARHT Media Inc. Issues Shares Related to Semi-Annual Interest Payment on Secured Subordinated Debentures

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TORONTO, July 24, 2024 (GLOBE NEWSWIRE) — ARHT Media Inc. (“ARHT” or “the Company”) (TSXV: ART), (OTCQB:ARHTF) the global leader in the development, production and distribution of high-quality, low latency hologram and digital content, announces that it intends to issue an aggregate of $175,787.35 of interest payment owed to certain arm’s-length and non-arm’s length holders of debentures (the “Debentures“) through the issuance of an aggregate of 2,929,793 common shares of the Company (each, a “Common Share“) at a price of $0.06 per share (the “Debt Settlement“). The Debentures were issued in August 2023, February 2024, and June 2024, respectively, and mature on August 3, 2025 and carry an annual interest rate of 15%, accrued and payable semi-annually on each of June 30 and December 31, payable in cash or shares at the option of the Company and subject to the approval of the TSX Venture Exchange (the “TSXV“). Under the terms of the Debentures, the interest payable to the holders of Debentures is payable in Common Shares at a price per Common Share equal to the Market Price on July 23, 2024. See press release dated August 3, 2023.

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