ARHT Media Inc. Confirms Issue of Shares in Satisfaction of June 30, 2024 Interest Payment Due on Secured Subordinated Debentures
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TORONTO, Aug. 16, 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, confirmed that it has satisfied an aggregate of $175,787.35 of interest 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, 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 Common Shares at the option of the Company and subject to the approval of the TSX Venture Exchange (the “TSXV“). See press releases dated August 3, 2023, January 2, 2024, February 20, 2024, June 7, 2024 and July 24, 2024.
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