Business
Next Phase Ventures Ltd. Announces Proposed Debt Conversion, Financing, Corporate Update, and Filing of Q2 2026 Financial Results
Calgary, Alberta--(Newsfile Corp. - May 29, 2026) - Next Phase Ventures Ltd. (TSXV: NPV) (formerly Hempalta Corp.) (the "Company") announces that it has filed its interim financial statements, management's discussion and analysis ("MD&A"), and related certifications for the three-month period ended March 31, 2026 on SEDAR+.Strengthening the Balance Sheet and FinancingAs part of the Company's ongoing transition and strategic repositioning, the Company announces that it has entered into an...
About this update from Next Phase Ventures Limited
[{"type":"text","content":"Calgary, Alberta--(Newsfile Corp. - May 29, 2026) - Next Phase Ventures Ltd. (TSXV: NPV) (formerly Hempalta Corp.) (the "Company") announces that it has filed its interim financial statements, management's discussion and analysis ("MD&A"), and related certifications for the three-month period ended March 31, 2026 on SEDAR+.","length":353,"tagName":"p"},{"type":"text","content":"Strengthening the Balance Sheet and Financing","length":45,"tagName":"p"},{"type":"text","content":"As part of the Company's ongoing transition and strategic repositioning, the Company announces that it has entered into an agreement to settle approximately $400,000 of outstanding secured indebtedness owing to the Company's President & CEO, through the issuance of common shares of the Company at a deemed price of $0.02 per common share, subject to TSX Venture Exchange approval.","length":393,"tagName":"p"},{"type":"text","content":"The Company also intends to complete a non-brokered private placement financing for gross proceeds of up to $500,000 through the issuance of units at a price of $0.02 per unit, subject to TSX Venture Exchange approval. The financing is expected to include a lead order of up to $100,000 from the Company's President & CEO, demonstrating continued alignment with shareholders and confidence in the Company's long-term strategic direction.","length":449,"tagName":"p"},{"type":"text","content":"The proposed debt conversion and financing are intended to materially strengthen the Company's balance sheet, improve working capital, reduce long-term liabilities, and further align management with shareholders as the Company advances its strategic transition and evaluates future growth opportunities.","length":307,"tagName":"p"},{"type":"text","content":"Corporate Update","length":16,"tagName":"p"},{"type":"text","content":"The Company also announces that its common shares are now trading on the TSX Venture Exchange under the new name "Next Phase Ventures Ltd." and trading symbol "NPV", following the previously announced corporate name change from Hempalta Corp.","length":262,"tagName":"p"},{"type":"text","content":"In addition, the Company is pleased to announce the launch of its new corporate website at www.nextphaseventures.ca. The new website reflects the Company&#...