Geekco Technologies Corporation: Shares for Debt
LAVAL, Quebec, Oct. 22, 2020 (GLOBE NEWSWIRE) — GEEKCO TECHNOLOGIES CORPORATION – Geekco Technologies Corporation (the “Corporation” or “Geekco”) (TSXV: GKO) announces that it has agreed to issue 371,875 class A shares of its share capital (the “Common Shares”) at a deemed price of $0.40 each in settlement of a debt of $148,750 owed by FlipNpik Technologies Inc., a wholly owned subsidiary of the Corporation, to Séguin Racine, Avocats Ltée as compensation for legal services. The Common Shares will be subject to a resale restriction period of four months and one day. This issuance of shares for debt, carried out between arm’s length parties, remains subject to the approval of the TSX Venture Exchange.
About GeekcoGeekco is positioning itself at the forefront of social media by offering FlipNpik, a collaborative social network that aims to promote local shopping, thereby contributing to the improvement of the local economy and the quality of life of citizens and rewarding valuable contribution with all active users. The FlipNpik ecosystem and mobile application leverage the community of consumers, content creators and influencers to stimulate local shopping and boost the visibility of local businesses. In exchange, active users who create and share digital content within the platform receive “Social Flip” that they use to earn rewards and/or consumption from strategic partners and local businesses.Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.For more information, please contact