Canglobe International Inc. Finalizes Debt Settlement Agreement with Creditors.EDMONTON, Alberta -- Canglobe International Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CGLB), has finalized its debt settlement agreements with creditors for $236,862.40; $146,862.50 was reported on January 27, 2005. Under the terms of the debt settlement agreement, the creditors have entered into demand promissory notes promissory note, unconditional written promise to pay a certain sum of money at a definite time to bearer or to a specified person on his order. Promissory notes are generally used as evidence of debt. with the Company, which are due December 31, 2005. These demand promissory notes give the creditors the option to convert their debt into equity at an average of 20% of market value. Except for historic information contained herein, the disclosures made in this release constitute forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. within the meaning of the federal securities laws including section 27A of the Securities Act of 1933 and section 21E of the Exchange Act of 1934, and are subject to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. created by these sections. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion