- CULT Food Science (OTCQB:CULTF) on Tuesday said it has entered into debt resolution agreements to settle cash payments owed to creditors totaling $140,940.
- Pursuant to the Settlement Agreements, the company agreed to issue ordinary securities for a total of 2.25 million shares at an estimated price of $0.03997 per Share and 1.02 million shares at an estimated price of $0.05 per share.
- The debt deal provides a director of the company for 160,000 shares for consultancy services.
- The Company also announced the issuance of 1,360,000 Restricted Stock Units of the Company to its directors and officers pursuant to the RSU Plan adopted by the stockholders on June 15, 2023.
- Source: press release
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