Tilting Capital Corp.

February 02, 2016 09:27 ET

Tilting Capital Corp. Announces Shares for Debt Issuance

CALGARY, ALBERTA--(Marketwired - Feb. 2, 2016) - Tilting Capital Corp. (the "Corporation" or "Tilting Capital") (NEX:TLL.H) announces that it has approved the settlement of outstanding management fees payable to the Chief Executive Officer of the Corporation in an aggregate settlement amount of $15,000, through the issuance of an aggregate of 125,000 common shares in the capital of the Corporation ("Common Shares"), at a price of $0.12 per Common Share. The amount of $15,000 is payable pursuant to a consulting agreement with the Chief Executive Officer. The Common Shares are subject to a four-month hold period from the date of issuance in accordance with applicable securities laws.

The Corporation has determined that exemptions from the various requirements of TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 are available for the issuance of the Common Shares to the Chief Executive Officer of the Corporation (i.e., Formal Valuation Requirement - Issuer Not Listed on Specified Markets; Minority Approval Requirement - Fair Market Value Not More Than 25% of Market Capitalization).

The issuance of the Common Shares is subject to TSX Venture Exchange final acceptance.

Neither the NEX Board, 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 press release.

Contact Information

  • Tilting Capital Corp.
    Scott P. Hayduk
    (403) 560-4951