Lobe Sciences Strengthens Balance Sheet with Debt Settlement

Lobe Sciences Ltd., a pharmaceutical company based in Vancouver, has completed a debt settlement involving USD 137,130 (CAD 191,884.32) in liabilities. The settlement involved issuing 3,837,686 common shares to Clearway Global, LLC, a related party, at C$0.05 per share. This strategic move aims to improve the company's balance sheet by conserving cash for future growth initiatives.

The settlement is classified as a "related party transaction" under Multilateral Instrument 61-101, but is exempt from certain formalities due to exemptions in MI 61-101. The common shares issued are subject to a four-month hold period under Canadian laws.

Focused on delivering long-term growth, Lobe continues to explore financing opportunities. Notably, the securities are not registered under the U.S. Securities Act of 1933 and cannot be offered in the U.S. without registration.