Xebra Brands Concludes Debt Settlement With Shares Issuance and Grants New Options

Xebra Brands Ltd., a cannabis company, finalized its previously announced shares for debt transaction, settling a total debt of $266,690 through the issuance of 4,848,909 common shares. This move was aimed at preserving operational funds and fostering growth opportunities. Issued at a deemed price of $0.055 per share, these shares will be on hold for four months and one day, pending the final nod from the Canadian Securities Exchange. A significant portion of these shares was allocated to certain company insiders, constituting a 'related party transaction' as defined under MI 61-101, though the company secured exemptions to bypass formal valuation and minority shareholder approval requirements.

The announcement corrects previous figures, noting the settlement involves slightly more debt and shares than initially stated. Additionally, Xebra has granted 3,200,000 stock options to key directors, officers, and consultants, exercisable at $0.10 per share for three years from the grant date. These moves come as part of Xebra's strategy to strengthen its operational capacity and secure its position within the cannabis market without diluting funds in the United States, complying with the U.S. Securities Act of 1933.