Company has received a debt settlement agreement whereby the Company will issue 2,857,143 common shares at a price of $0.035 per share for a total of $100,000,
Nerds On Site Inc. (CSE: NERD) (OTCQB: NOSUF) (“Nerds” or the “Company”), a leading provider of Cybersecurity, Managed IT, as well as on-site and remote support services for small and medium-sized enterprises, today announced that the Company has received a debt settlement agreement with a director of the Company whereby the Company will issue 2,857,143 common shares at a price of $0.035 per share for a total of $100,000, subject to a 4 month restricted hold and subject to exchange approval.
The 2,857,143 common shares are to be issued to a director, making this a related party transaction. The Company is relying upon exemptions contained in sections 5.5(a) and 5.7 (a) of MI 61-101 as the fair market value of the shares being issued is less than 25% of the market capitalization of the Company.
Also Read: CIO Influence Interview with Gihan Munasinghe, CTO of One Identity
About Nerds On Site Inc.
Founded in 1995, Nerds On Site Inc. (CSE: NERD) is a premier provider of managed IT and cybersecurity services, catering to businesses and individuals across North America. With a network of highly skilled IT professionals, the Company specializes in delivering secure, scalable, and cost-effective technology solutions. Nerds leverages its proprietary ERP system, IAMANERD, to streamline operations, enhance service delivery, and ensure seamless IT support for clients in various industries. Committed to innovation, the Company continues to expand its offerings in cybersecurity, risk management, and remote IT services to meet the evolving needs of its customers in an increasingly digital world.
Catch more CIO Insights: CIO as Orchestrator of Cross-Functional Digital Strategy
[To share your insights with us, please write to psen@itechseries.com ]
