Foothills Exploration announces retirement, settlement of dilutive warrant

Foothills Exploration announced that it has reached a settlement agreement and paid to extinguish a dilutive warrant. For the remainder of the year, the Company’s intended strategy is to settle and/or retire all of its outstanding convertible debt and associated warrants to clean up its balance sheet and better position itself for future growth. To that end, the Company recently reached a settlement agreement with an institutional investor, which retired and extinguished all of their remaining warrants issued in 2019, and cancelled their 498,086,349 irrevocable share reservation held by the Company’s stock transfer agent.