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VGrab Communications Inc. Enters into Debt Settlement Agreements
home / news releases / VGrab Communications Inc. Enters into Debt Settlement Agreements
October, 09 2020 06:00 AM | Newsfile |
Vancouver, British Columbia--(Newsfile Corp. - October 9, 2020) - VGrab Communications Inc. (OTCQB: VGRBF) (the "Company" or "VGrab") an OTCQB-listed issuer, announced today that it had reached an agreement with its directors and officers (the "Debt Holders") to partially convert their debts into common shares of the Company.
Pursuant to the debt conversion agreements (the "Agreements"), the Company issued a total of 1,780,084 common shares of the Company, to settle $640,830 owed to Mr. Lim Hun Beng, the Company's CEO/President and the majority shareholder, Mr. Liong Fook Weng, the Company's CFO, and Mr. Ong See Ming, the Company's Director.
The securities issued pursuant to the debt conversion agreements have not bee registered under the Act and may not be offered or sold within the United States or to U.S. persons unless an exemption from such registration is available.
For an additional information please refer to the Current Report on Form 8-K the Company filed with the SEC on October 9, 2020.
On behalf of the Board of Directors,
Lim Hun Beng, President
CONTACT INFORMATION
VGrab Communications Inc.
604-648-0510
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