TORONTO, May 21, 2021 (GLOBE NEWSWIRE) — EarthRenew Inc. (“ EarthRenew ” or the “ Company ”) (CSE: ERTH; OTCQB: VVIVF) is pleased to announce that it has completed its shares for debt settlements with certain creditors of the Company’s recently acquired wholly-owned subsidiary, Replenish Nutrients Ltd. that were previously announced on May 17, 2021 (the “ Shares for Debt Settlement ”).
Pursuant to the Shares for Debt Settlement, the Company has issued 2,184,663 common shares of the Company at a deemed price of $0.248 per share in satisfaction of outstanding debt of $541,796. The common shares issued pursuant to the Shares for Debt Settlement are subject to a four month and one day hold period expiring on September 22, 2021.
EarthRenew’s mission is to support a farm system that puts healthy soils and grower profitability back on the table. Using circular economic principles of upcycling waste products into high-value agronomic inputs, we are building an innovative platform of soil health products to establish EarthRenew as a key player in the regenerative agriculture space. We strive to be a driving part of this movement by offering growers natural fertilizer alternatives that feed the soil to strengthen the earth’s ability to restore itself while growing healthy plants. EarthRenew benefits from multiple revenue streams including, primarily, the sale of regenerative fertilizers, but also enjoys secondary revenue from generating power and selling surplus electricity.
For further information, please visit our website at www.earthrenew.ca or contact:
CEO of EarthRenew
+1 (403) 860-8623
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS MARKET REGULATOR (AS THAT TERM IS DEFINED IN THE POLICIES OF THE CANADIAN SECURITIES EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.