Fintech Select Announces Settlement of Accumulated Debt Shares and Remuneration of Directors and Officers


TORONTO, December 31, 2021 / CNW / – Fintech Select Ltd. (“Fintech Select“or the”Society“) (TSXV: FTEC) announces the settlement of the accrued fees of the directors as well as the unpaid remuneration to the management in the total amount of $ 297,000 (the “Debt“) by issuing 7,425,000 ordinary shares of the Company to 4 different persons at the market price of 4 cents ($ 0.04) per share (“Debt actions“) from the close of business on December 31, 2021. The debt had accrued over several years under director services and executive compensation agreements approved by the Board of Directors of the Company. By issuing the Shares for debt, the Company intends to preserve its liquidity to better finance its operations and continue to clean up its balance sheet. Completion of the Debt Stocks remains subject to acceptance by the TSX Venture Exchange.

Logo Fintech Select Ltd. (CNW Group / Fintech Select Ltd.)

The Company also granted 1,600,000 exercisable options to five hundred ($ 0.05) to directors and management as well as 560,000 additional options exercisable at half past seven ($ 0.075) cents to the directors, each of these options granted expiring within 3 years of the grant date.

About Fintech Select Ltd.

Fintech Select is a provider of robust and disruptive prepaid card programs and e-wallet payment solutions. Fintech Select has enabled these core assets that operate across separate divisions to work together seamlessly to create a new and ubiquitous environment for consumers and businesses. Fintech select also operates an international call center that provides fulfillment and customer service support to customers across all of the company’s platforms. Our mission is to provide customers with choice, convenience and cost-effective means to facilitate traditional financial and crypto transactions.

Follow us on:
https://www.facebook.com/FintechSelect
https://twitter.com/fintech_select
https://www.instagram.com/fintechselect
https://www.linkedin.com/company/fintechselect/

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-looking information:
This press release contains “forward-looking information” within the meaning of applicable securities laws. Readers are cautioned not to place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements. The statements contained in this press release are made as of the date of this press release. Fintech assumes no obligation to comment on any analyzes, expectations or statements made by third parties regarding its securities, financial or operational results (if applicable) or its outlook regarding the effective implementation of strategies or initiatives or future income levels. Fintech disclaims any intention or obligation to publicly update any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

SOURCE Fintech Select Ltd.

Cision

Cision

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/December2021/31/c6459.html



Source link

Previous New Brunswick truck driver helps save dog running free on highway
Next Insurers want Marshall evacuees to call them ASAP - Greeley Tribune