ALR Technologies SG Ltd (ALRTF)

[MG123]

Looks like Mr. Chan has a master plan here.

On September 21, 2020, ALR Technologies Inc. (the “Company”) entered into two shares for debt agreements (the “Agreements”) to issue an aggregate of 240,000,000 restricted shares of common stock at a deemed price of $0.05 per share to retire $12,000,000 of outstanding debt as follows......

Each of the Agreements have a non-dilutive clause for any subsequent equity sales by the Company to issue its shares of common stock below $0.05 per share for a term of twelve months. The Agreements were approved by all the independent directors of the Company. The shares were issued pursuant to the exemption from registration contained in Regulation S of the Securities Act of 1933, as amended. The foregoing transaction took place outside the United States. Both of Mr. Chan and Ms. Kan are non-US persons. Mr. Chan is the Chairman of the Board of Directors and Chief Executive Officer of the Company. Ms. Kan is the spouse of Mr. Chan.


$ALRT