Business
CleanGo Issues Shares for Debt
(TheNewswire) Vancouver, B.C. – TheNewswire - July 18th, 2023 - CleanGo Inno...
About this update from Cleango Innovations Inc
[{"type":"text","content":"CleanGo Issues Shares for Debt\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Vancouver, B.C. –\n \n \n TheNewswire -\n \n \n July 18th, 2023 - CleanGo Innovations\nInc.\n \n (\n \n CSE\n \n :CGII.CN) (OTC:CLGOF)\n(FRA:APO2) (“CleanGo”) or (the “Company”) Pursuant to the\nrelease of July 11, 2023 the Company has issued 285,714 Common shares\nas part of a Debt Settlement Agreement with its CEO in the amount of\n$100,000 at a deemed value of $0.35 per share.\n \n \n The shares for debt transaction constitutes a “related party\ntransaction” within the meaning of Multilateral Instrument 61-101\n– Protection of Minority Security Holders in Special\nTransactions (“MI 61-101“) as the CEO of the Company received the\nCommon Shares in connection with the debt settlement. The Company is\nrelying on the exemptions from the valuation and minority shareholder\napproval requirements of MI 61-101 contained in sections 5.5(a) and\n5.7(1)(a) of MI 61-101, as the fair market value of the shares for\ndebt transaction with the insider does not exceed 25% of the market\ncapitalization of the Company, as determined in accordance with MI\n61-101.\n \n \n \n About CleanGo Innovations\n \n \n \n CleanGo Innovations Inc. is an international, publicly traded company\nthat specializes in the development of early-staged, green, non-toxic\nand sustainable products used in retail, commercial and industrial\napplications.\n \n \n The company is proud of its suite of proprietary, Green Seal Certified\nnon-toxic green products that are Health Canada approved to claim\n99.9% disinfecting of viruses and bacteria on a hard surface.\nCleanGo’s portfolio is proud to be a part of Cruelty Free / Leaping\nBunny as a certified product while being both family and pet safe. It\nis CleanGo’s mission to create the world’s leading non-toxic,\ngreen solutions for the worlds cleaning problems.\n \n \n CleanGo Innovation’s experienced team brings new ideas and\ninnovation based on science to find solutions to the problems of\ncurrent world we live in. Customers rely on quality, nontoxic products\nto keep their homes clean and their loved ones safe.\n \n \n \n On behalf of the CEO & Board of\nDirectors\n \n \n \n \n Anthony Sarvucci\n \n \n Chie...