Business
DTII debt consolidation and funding
DTII debt consolidation and funding.
About this update from Defense Technologies International Corp.
[{"type":"text","content":" Defense Technologies International Corp.(Formerly: Canyon Gold Corp.)\nReleased July 21, 2016\nDefense Technologies Announces Debt Consolidation, Update on Production Funding\nLas Vegas NV - Canyon Gold Corp. (OTCQB ‘CGCC’) (The Company), a developer of security technologies, announced a research report on the company is now available for review.On July 18, 2016, the Company closed agreements to buy-out and restructure two convertible note holders (EMA and Crown Bridge) holding an aggregate of $130,000 in convertible debt. This represents the first tranche of a proposed restructuring and consolidation of the Company's convertible debt into one financing partner, which should provide increased market stability from any \nconversion into the market. \nThe Company is currently in negotiations with a prospective funding partner to provide not just funding for our DTC Scanner production, which could begin in full within 1 to 1 ½ months, but also provide a more friendlier and longer term funding source for all the companies short and long-term \ncapital needs.\nMerrill W. Moses the CEO of Defense Technologies International Corp. commented. ”We are pleased to announce the consolidation of our convertible debt. The recent headlines regarding the increased need for venue security has drawn attention to our technology from a number of parties, and we are currently in the process of negotiating a long term funding relationship to cover not only our future production, but additionally any short term funding needs, which by the way, will help us move away from the need of dilutive forms of financing. This in turn should help move the company forward in our business model, while also protecting our shareholders and shareholder value, which is of the utmost importance to our Board of Directors.”\n \nAbout Defense Technologies International Corp.\nDefense Technologies International Corp (OTCQB:DTII) core ideology is to provide superior solutions for today’s new world risks and threats. DTC is positioned to enter the, until now, untapped public school market segment for threat detection security. DTC has assembled a r...