Sensible Hot Dogs Announces Completion of Debt Settlement
Sensible Hot Dogs (referred to as "Sensible") (NEO: HOTD), a pioneering plant-based hot dog company focused on revolutionising America's street food scene, announces that it has issued an aggregate of 732,000 common shares (each a "Share") at a deemed price of $0.07 per Share to settle $51,240 in debt (the "Debt Settlement") for past consulting and management services provided to the Company.
Christopher P. Cherry, a director of Sensible, received 128,571 Shares in the Debt Settlement. As a result, the Debt Settlement is a is a related party transaction (as defined under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company relied upon section 5.7(a) the "Fair Market Value Not More than $2,500,000" and exemptions from the formal valuation and minority shareholder approval requirements, under MI 61-101.
The Shares issued in the Debt Settlement are subject to a mandatory 4 month hold period.
About Sensible Hot Dogs (NEO: HOTD) (FSE: OX4)
Sensible Meats Inc., dba Sensible Hot Dogs, is an innovative hot dog company focused on changing the playing field around America's street food. The Company's goal is to transform the consumer experience of plant-based eating and to prove that tasty foods can also come from less processed, natural ingredients. Sensible is going above and beyond the impossible to deliver the world's tastiest, healthiest, and smartest hot dog.
On behalf of Sensible Hot Dogs,
Shawn Balaghi, CEO
This press release contains statements which constitute "forward?looking information" within the meaning of applicable securities laws. Forward-looking information is often identified by the words "may," "would," "could," "should," "will," "intend," "plan," "anticipate," "believe," "estimate," "expect" or similar expressions. Readers are cautioned that forward?looking information is not based on historical facts but instead reflects the Company's management's expectations, estimates or projections concerning the business of the Company's future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although the Company believes that the expectations reflected in such forward?looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance, or achievements. Among the key factors that could cause actual results to differ materially from those projected in the forward?looking information are the following: changes in general economic, business and political conditions, including changes in the financial markets; decreases in the prevailing prices for products in the markets that the Company operates in; adverse changes in applicable laws or adverse changes in the application or enforcement of current laws; regulations and enforcement priorities of governmental authorities; compliance with government regulation and related costs; and other risks described in the Company's prospectus. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward?looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated, or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated, or intended. The Company does not intend, and does not assume any obligation, to update this forward?looking information except as otherwise required by applicable law.
Neither the NEO Exchange nor any securities regulatory authority has approved or disapproved the contents of this press release.
The securities referred to in this news release have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any applicable securities laws of any state of the United States, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons (as such term is defined in Regulation S under the U.S. Securities Act) or persons in the United States unless registered under the U.S. Securities Act and any other applicable securities laws of the United States or an exemption from such registration requirements is available.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any of these securities within any jurisdiction, including the United States. Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the company and management, as well as financial statements.
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