Cloud DX Inc (TSE:CDX) has released an update.
Cloud DX Inc. has made a strategic financial move by settling $4.2 million in debt through the conversion of debentures to common shares at $0.154/share, a rate above the current market price. The shareholders, including three board directors, have showcased their confidence in the company by entering a voluntary pooling agreement, committing not to sell their shares for 24 months, with a potential early release if the share price consistently exceeds $0.50. This decision has been made to strengthen the company’s financial position and demonstrates the shareholders’ long-term commitment to its success.
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