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08:04:26 EDT Fri 17 May 2024
Enter Symbol
or Name
USA
CA



HTC Purenergy Inc
Symbol HTC
Shares Issued 203,433,741
Close 2023-06-05 C$ 0.005
Market Cap C$ 1,017,169
Recent Sedar Documents

HTC Purenergy unit closes partial debt settlement

2023-06-06 13:58 ET - News Release

Subject: HTC Purenergy Inc. PDF Document File: Attachment 2023-06-06 KF Hemp Settlement Closing NR.pdf News Release June 6, 2023 For Immediate Release HTC Extraction Systems Announces Closing of Partial Settlement of Subsidiary Debt. Regina, Saskatchewan HTC Purenergy Inc. (dba "HTC Extraction Systems") ("HTC" or the "Company") (TSX-V: HTC) is pleased to announce, further to its May 15, 2023 news release, its wholly owned subsidiary KF Hemp Corp. ("HempCo") has closed the partial settlement of debt agreement entered into with KF Kambeitz Farms Inc. ("Farms"). This transaction has been approved by the shareholder and the board of directors of HempCo and the TSX Venture Exchange. HempCo was indebted to Farms in the amount of $4,206,660 (the "Indebtedness"). HempCo recently communicated to Farms, an arm's length creditor and secured party, that it is unable to settle the Indebtedness, when due. As a result, on May 9, 2023, HempCo and Farms entered into a partial debt settlement agreement, pursuant to which HempCo settled $1,200,000 of its Indebtedness, by transferring the right, title and interest of all the hemp related property and assets of HempCo to Farms, effective December 31, 2022 with the balance of the Indebtedness to be payable in full on October 31, 2025. HempCo's Indebtedness to Farms has now been reduced to $3,006,660. 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 THE RELEASE. For more information contact: Jeffrey Allison, HTC Extraction Systems Tel: 306-352-6132 E-mail: jallison@htcpurification.com HTC corporate developments can be followed on www.htcextraction.com. This press release contains "forward-looking statements" or "forward-looking information" (collectively referred to herein as "forward-looking statements") within the meaning of applicable securities legislation. Such forward- looking statements include, without limitation, forecasts, estimates, expectations and objectives for future operations that are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of HTC. Forward-looking statements are statements that are not historical facts and are generally, but not always, identifiedby thewords "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur or be achieved. This press release contains forward-looking statements pertaining to, among other things, the timing and ability of the Corporation to close the Asset Sale Agreement, if at all and the timing. Forward-looking information is based on current expectations, estimates and projections that involve a number of risks, which could cause actual results to vary and, in some instances, to differ materially from those anticipatedby HTC and describedin the forward-lookinginformationcontainedin this press release. Although HTC believes that the material factors, expectations and assumptions expressed in such forward- looking statements are reasonable based on information available to it on the date such statements were made, no assurances can be given as to future results, levels of activity and achievements and such statements are not guarantees of future performance.

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