Nepra Foods Converts Debt into Equity

Nepra Foods Inc. has announced an agreement to convert USD$487,849 in debt into common shares. The agreement, involving a revolving promissory note with William Hogan, will see the issuance of 6,969,273 shares at a CAD$0.10 conversion price. This transaction aims to enhance the company's financial standing.

The deal complies with Canadian Securities Exchange policies and is expected to complete soon. Hogan, as an insider and CEO, plays a key role in this related party transaction. The company is exempt from certain regulatory requirements due to its financial situation.

The shares generated through this transaction will not be registered under U.S. Securities laws. Consequently, they cannot be sold in the U.S. without specific exemptions. The conversion intends to alleviate financial challenges for Nepra Foods.