on Right Seasons Investments (CVE:LITT)
FutureGen Industries Settles Debt with Shares Issuance
FutureGen Industries Corp., previously known as Right Season Investments Corp., announced a debt settlement with a company director, resulting in the issuance of 201,600 common shares. This agreement, dated September 4, 2026, involves resolving $25,200 of outstanding debt at a price of $0.125 per share.
The transaction is categorized as a "Related Party Transaction" under Multilateral Instrument 61-101, but due to the fair market value and consideration being below 25% of FutureGen's market capitalization, exemptions from formal valuation and minority approval requirements apply.
The TSX Venture Exchange's approval is pending, and the settlement details were finalized just before the expected closure. Therefore, a material change report was not filed 21 days prior to closing, allowing for an expedited settlement for business purposes.
R. P.
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