Nepra Foods Announces Closing of Debt Conversion

Nepra Foods Inc. has completed a debt conversion transaction, converting US$970,551 of outstanding debt into 26,445,572 common shares. This transaction was previously announced by the company on July 15, 2024.

The newly issued shares are subject to a statutory hold period ending on November 24, 2024. These shares are not registered under the U.S. Securities Act of 1933 or any state securities laws, and therefore cannot be offered or sold in the United States without proper registration or exemption.

Insider shareholder William Hogan participated in the transaction, which is considered a "related party transaction" under MI 61-101. Nepra Foods' board of directors, acting in good faith, unanimously determined that this transaction is designed to improve the company's financial position.