ICEsoft Announces Extension of Secured Convertible Note and Issuance of Warrants
Calgary, Alberta--(Newsfile Corp. - December 1, 2020) - ICEsoft Technologies Canada Corp. (CSE: ISFT) (the "Corporation" or the "Company" or "ICEsoft") has issued a one-year extension on $100,000 CAD of a previous issued secured convertible note (the "Note"). The Note was set to expire on December 11, 2020 and has been amended to expire on December 11, 2021. The Note continues to carry 12% annual interest and has the option to convert to Common A shares of ICEsoft at $0.15 CAD per share. As part of the extension of the Note, 300,000 warrants striking at $0.10 CAD / warrant and each convertible to one Common A share of the corporation have been issued. The warrants expire on December 1, 2024. This transaction is not with a related party.
About ICEsoft Technologies Canada Corp.:
ICEsoft Technologies Canada Corp. is a software as a service ("SaaS") company. ICEsoft's current software, which is available as freeware with a pay to use version, is used by some 150,000 developers, 20,000 companies, and some 400 paying customers. For more information, please contact:
Brian McKinney
Chief Executive Officer
Tel: 403-663-3320
Forward-Looking Information Advisory
Certain information in this press release is forward-looking within the meaning of certain securities laws, and is subject to important risks, uncertainties and assumptions. This forward-looking information includes, among other things, information with respect to the Corporate Changes, Private Placement and shares for debt transactions, assumptions about future economic conditions and courses of action, and the Company's beliefs, plans, expectations, anticipations, estimates and intentions. The words "may", "could", "should", "would", "suspect", "outlook", "believe", "anticipate", "estimate", "expect", "intend", "plan", "target" and similar words and expressions are used to identify forward-looking information. The forward-looking information in this material change report describes the Company's expectations as of the date of this news release and accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While the Company may elect to, it does not undertake to update this information at any particular time.
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