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Elixxer Ltd. Provides Update and Corrective Statements on Proposed Debt Settlement and Upcoming Shareholder Meeting
Toronto, Ontario--(Newsfile Corp. - November 6, 2025) - Elixxer Ltd. (TSXV: ELXR.H) (" Elixxer " ...
About this update from Elixxer Ltd.
[{"type":"text","content":"Elixxer Ltd. Provides Update and Corrective Statements on Proposed Debt Settlement and Upcoming Shareholder MeetingToronto, Ontario--(Newsfile Corp. - November 6, 2025) - Elixxer Ltd. (TSXV: ELXR.H) (\"Elixxer\" or the \"Company\") announces that it has called its annual and special shareholder meeting (the \"Meeting\") of shareholders of the Company, to be held on Tuesday, December 30, 2025. The management information circular and related materials will be mailed to shareholders of the Company and filed on the Company's profile on SEDAR+ on or about November 25, 2025. At the Meeting, shareholders of the Company will be voting on the following items of business; (i) to appoint the auditors of the Company; (ii) to elect the directors of the Company for the ensuing year; (iii) to approve a proposed name change, to such name as the directors in their sole discretion may determine; (iv) to approve and confirm the Company's stock option plan; (v) to approve the Debt Settlement, as further described below; (vi) to approve a voluntary de-listing of the Company's common shares from the TSX Venture Exchange (the \"TSXV\") and list the Company's common shares on another recognized stock exchange; and (vii) to approve a consolidation of its Common Shares (as defined below), on the basis of up to one hundred (100) old Common Shares into one (1) new post-Consolidation Common Share.On September 5, 2025, the Company announced by press release (\"September 5 Press Release\") the proposed settlement of $6,923,742.46 of indebtedness to certain arm's length and non-arm's length creditors of the Company through the issuance of an aggregate of 83,924,151 common shares in the capital of the Company (the \"Common Shares\") at a price of $0.0825 per Common Share (the \"Debt Settlement\"). The Debt Settlement is inclusive of indebtedness owed by the Company to: (i) AIP Convertible Private Debt Fund L.P. (\"AIP\"), a control person of the Company (a total of $6,323,742.46 which will be settled through the issuance of 76,651,424 Common Shares (the \"AIP Debt\")); (ii) Mr. Ferras Zalt, a former director and officer of the Company (a total of $573,487.98 which will be settled through the issuance of 2,424,243 Common Shares (the \"Zalt Debt\")); and (iii) the settled of a statement of claim (the \"Statement of Claim\"), in respect of the termination of a con...