Business
Steep Hill Announces Closing of Debt Settlement
Toronto, Ontario--(Newsfile Corp. - May 6, 2026) - Steep Hill Inc. (CSE: STPH) ("Steep Hill" or the "Company") is pleased to announce that, further to its press release of April 30, 2026, it has settled an aggregate of $79,278.00 of indebtedness to a non-arm's length creditors of the Company through the issuance of 1,321,300 common shares in the capital of the Company (the "Common Shares") at a price of $0.06 per Common Share (the "Debt Settlement"). The Common Shares issued pursuant to the Debt
About this update from Steep Hill Inc
[{"type":"text","content":"Toronto, Ontario--(Newsfile Corp. - May 6, 2026) - Steep Hill Inc. (CSE: STPH) ("Steep Hill" or the "Company") is pleased to announce that, further to its press release of April 30, 2026, it has settled an aggregate of $79,278.00 of indebtedness to a non-arm's length creditors of the Company through the issuance of 1,321,300 common shares in the capital of the Company (the "Common Shares") at a price of $0.06 per Common Share (the "Debt Settlement"). The Common Shares issued pursuant to the Debt Settlement are subject to a four-month hold period.","length":611,"tagName":"p"},{"type":"text","content":"The Debt Settlement is constituted "related party transactions" as defined in Multilateral Instrument 61-101 - Protection of Minority Securityholders in Special Transactions ("MI 61-101"), as insiders of the Company received an aggregate of 1,321,300 Common Shares. The Company is relying on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(b) and 5.7(1)(a) of MI 61-101, as the Company is not listed on a specified market and the fair market value of the participation in the Offering by insiders does not exceed 25% of the market capitalization of the Company in accordance with MI 61-101.","length":682,"tagName":"p"},{"type":"text","content":"About the Company","length":17,"tagName":"p"},{"type":"text","content":"Steep Hill Inc. is a publicly traded company listed on the Canadian Securities Exchange that has no current operations and is focused on seeking and evaluating potential transactions.","length":183,"tagName":"p"},{"type":"text","content":"For more information, contact:","length":30,"tagName":"p"},{"type":"text","content":"Sameet Kanade, CEOEmail: [email protected] www.steephill.comTel: 647-876-6525","length":95,"tagName":"p"},{"type":"text","content":"Cautionary Note Regarding Forward-Looking Statements","length":52,"tagName":"p"},{"type":"text","content":"Certain information contained herein may constitute forward-looking statements that involve risks and uncertainties. Readers are cautioned not to place undue reliance on forward-looking statements, including, but not limited to, statements regarding the anticipated completion of the transactions described herein, ...