Wi2Wi Corp. Announces Closing Shares for Debt Transactions
TORONTO, ON / ACCESSWIRE / November 12, 2015 / Wi2Wi Corporation ("Wi2Wi" or the "Company") announces that it has completed the previously announced (see Wi2Wi release dated Sept. 30, 2015) shares for debt transactions with LaSalle Capital Group II-A L.P. (LaSalle) and four other creditors.
Pursuant to the shares for debt transactions, the Company has issued 30,570,082 common shares to LaSalle and an aggregate of 5,843,639 common shares to the other creditors. These common shares were issued at a deemed price of CAD 0.1275 per share. The common shares issued by the Company pursuant to these shares for debt transactions are subject to resale restrictions, in accordance with applicable securities legislation and TSX Venture Exchange requirements, until February 29, 2016. The Company's outstanding common shares increased to 133,027,744.
"With the completion of these transactions, the Company has significantly reduced its debt," said Zach Mathews, President and Chief Executive Officer. "We are continuing to further strengthen the Company's balance sheet."
For further information, please contact:
President and Chief Executive Officer