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Boardwalktech Completes $500,000 Debt to Equity Conversion
Boardwalktech Completes $500,000 Debt to Equity Conversion Canada NewsWire CUPER...
About this update from Boardwalktech Software Corp.
[{"type":"text","content":"\n\n\n\nBoardwalktech Completes $500,000 Debt to Equity Conversion\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nCUPERTINO, CA, March 3, 2020\n\n\n\nCompany continues to Improve Balance Sheet in Route to Fiscal Self-Sufficiency\n CUPERTINO, CA, March 3, 2020 /CNW/ - (TSXV:BWLK, OTCQB:BWLKF) – Boardwalktech Software Corp. (\"Boardwalktech\" or the \"Company\"), a leading digital ledger platform and enterprise software solutions company is pleased to announce that on February 28, 2020 it has completed a $500,000 debt-to-equity conversion with existing lender and investor, SQN Venture Income Fund, LP. (\"SQN\").   \nSQN will convert USD$500,000 of the existing principal from the Company's aggregate debt into 1,388,889 common shares of the Company at a conversion price of USD$0.36 per common share. In contemplation of this debt-to-equity conversion, at the annual and special meeting of the shareholders of the Company held on December 4, 2019, the shareholders of Boardwalktech approved the creation of SQN as a \"Control Person\" (as that term is defined in the TSXV Corporate Finance Manual) of the Company following the debt-to-equity conversion.  This completed debt-to-equity conversion relates to the loan agreement between SQN and the Company, amended in June 2019, which will mature in June, 2022. Boardwalktech expects to make further reductions in its aggregate debt ahead of that maturity.\nAbout Boardwalktech:\nBoardwalktech has developed a patented Digital Ledger Technology Platform that is in use today by 27 of the Fortune 500 running over 100 live mission-critical applications world-wide. This enterprise platform allows for multi-party collaboration, provenance, verification, and blockchain immutable transactions on a trusted, shared, and secured private permissioned digital ledger cloud service. The Boardwalktech platform allows rapid application development on any device or user interface and full integration with enterprise systems of record.\nForward-Looking Information and Statements \nThis...