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Toronto, December 31, 2021 /CNW/-Fintech Select Ltd. (“Fintech Featured” or”company“) (Toronto Stock Exchange:FTEC) Announced that the total settlement of its accrued fees to directors and unpaid remuneration to management is 297,000 USD (This”debt“) By issuing 7,425,000 common shares of the company to 4 different individuals 4 cents (0.04 USD) Per share (“Debt shares“) as of the end of business December 31, 2021. According to the directors’ service agreement and the executive compensation approved by the company’s board of directors, debt has accumulated for many years. When issuing debt shares, the company intends to retain cash to better fund its operations and continue to clean up its balance sheet. The final determination of debt shares is still to be accepted by the TSX Venture Exchange.
The full story can be found on Benzinga.com
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