Spetz Announces $500,000 Offering and Debt Restructuring Plan

Spetz Inc., based in Toronto, has outlined a private placement offering aiming to raise $500,000 through 5,000,000 common shares priced at $0.10 each. The initiative is part of a broader strategy including the proposal to settle $445,645.89 in payables by issuing 4,456,458 shares for debt. Additionally, Spetz is negotiating to restructure convertible debentures worth $1,017,673. These moves are crucial as the company navigates challenging capital markets and seeks to address its financial stability concerns.

The new debentures may be convertible into company units, each unit priced at $0.20 and comprising a common share and a half of a share purchase warrant. Despite the dilution risk, independent directors endorse these actions as necessary, given the company's financial difficulties. Completion of these plans is subject to regulatory approvals. Spetz underlines the urgency of these measures to ensure its operational continuity.