Business
Fort Technology Inc. Announces Debt Settlement Transaction
(TheNewswire) December 24, 2025 – Vancouver, British Columbia – Fo...
About this update from Fort Technology Inc.
[{"type":"text","content":"Fort Technology Inc. Announces Debt Settlement Transaction\n(TheNewswire)\n\n\n\n\n\nDecember 24, 2025 – Vancouver,\nBritish Columbia – Fort Technology Inc.\n(TSXV:FORT) (the “Company”) is pleased to announce that it has\nentered into a debt settlement agreement dated December 24, 2025 (the\n“Debt Settlement\nAgreement”), with Jeffs’ Brands Ltd (the\n“Creditor), a control person of the Company, whereby the Company\nagreed to issue to the Creditor and the Creditor agreed to accept\ncommon shares of the Company (the “Settlement Shares”)\nat a deemed price per share equal to the current market price, in full\nand final settlement of accrued and outstanding indebtedness in the\naggregate amount of US$2,462,767.00 (the “Debt”), being\nCAD$3,367,587.60\nas converted using the Bank of Canada exchange rate on December\n24, 2025 (the “Debt\nSettlement”). The Debt was originally incurred\nby Fort Products Limited, the Company’s wholly owned UK subsidiary,\nand Fort Products LLC, the Company’s wholly-owned US subsidiary, and\nwas assigned to the Company pursuant to two assignment agreements each\ndated November 12, 2025. \n\n\nAll securities to be issued under the Debt Settlement\nwill be subject to a four months and a day hold period pursuant to\napplicable securities laws. The offered securities have not been\nregistered under the U.S. Securities Act of 1933, as amended, and may\nnot be offered or sold in the United States absent registration or an\napplicable exemption from the registration requirements. This news\nrelease shall not constitute an offer to sell or the solicitation of\nan offer to buy nor shall there be any sale of the securities in any\nstate in which such offer, solicitation or sale would be\nunlawful.\n\n\nThe Company will issue Settlement Shares pursuant to\nthe Debt Settlement to the Creditor, a “related party” of the\nCompany, in this case constituting a “related party transaction”\nas defined under Multilateral Instrument 61-101 – Protection of Minority Securityholders in\nSpecial Transactions (“MI 61-101”). The\nCompany is exempt from the requirements to obtain a formal valuation\nand minority shareholder approval in connection with the participation\nof t...