OTTAWA, ON / ACCESSWIRE / February 3, 2021 / Braille Energy Systems Inc. (formerly Mincom Capital Inc.) (TSX-V:BES) ("BESI" or the "Company"), is pleased to announce that it has entered into debt settlement agreements with Grafoid Inc. The Company has agreed to issue an aggregate of 5,131,313 common shares ("Common Shares") in the capital of the Company at a deemed price of $0.12375 per Common Share to settle US$500,000 (CAD$635,000) of outstanding debt (collectively, the "Shares for Debt Transactions").
The completion of the Shares for Debt Transactions is subject to the approval of the TSX Venture Exchange. All securities issued pursuant to the Shares for Debt Transactions will be subject to a hold period of four months and one day from the date of issuance, in accordance with applicable securities legislation.
Management of the Company is aware that Grafoid continues to sell its current shareholdings in BESI.
About Braille Energy Systems Inc.
Braille Energy Systems Inc. holds an 89.95% equity interest in Braille Holdings Inc., which holds a 100% equity interest in Braille Battery Inc. Braille Battery is an established battery-manufacturing and energy storage company supplying batteries to the professional motor sports industry and the pioneer of a complete line of lightweight high powered battery systems for the transportation market. Braille Energy Systems (BESI) will expand its market penetration into a wider range of market segments that require lightweight, high-performing energy solutions, using the most scientifically advanced materials. For additional information about BESI and Braille Battery products, please visit our website at: www.brailleenergysystemsinc.com or www.braillebattery.com.
Neither 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 this release.
This news release may contain assumptions, estimates, and other forward-looking statements regarding future events. Such forward-looking statements involve inherent risks and uncertainties and are subject to factors, many of which are beyond the Company's control that may cause actual results or performance to differ materially from those currently anticipated in such statements.
Braille Energy Systems Inc. Investor Contacts:
Scott Anderson
Investor Relations
(858) 229-7063
[email protected]
Judith Mazvihwa-MacLean
CFO
(613) 581-4040
[email protected]
SOURCE: Braille Energy Systems Inc.