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MarketScreener Homepage  >  Equities  >  TSX VENTURE EXCHANGE  >  Lions Bay Capital Inc.    LBI   CA5362631064

LIONS BAY CAPITAL INC.

(LBI)
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Lions Bay Capital Inc. Announces Shares for Debt Transaction

10/23/2020 | 08:05pm EST

Vancouver, British Columbia--(Newsfile Corp. - October 23, 2020) - Lions Bay Capital Inc. (TSXV: LBI) ("Lions Bay" or the "Company") is pleased to announce that it has entered into debt settlement agreements with creditors of the Company pursuant to which the Company has agreed to issue an aggregate of 18,955,340 common shares at a price of $0.05 per share ("Shares") in order to settle certain obligations of the Company totaling $947,767 (the "Transaction"), of which $797,767 relates to insiders of the Company. The Company decided to satisfy the outstanding indebtedness with Shares in order to preserve its investment portfolio and to comply with undertakings given to its funding partners. The Transaction is subject to the approval of the TSX Venture Exchange (the "Exchange"). The Company will issue the Shares once the Transaction has been approved by the Exchange.

About Lions Bay Capital Inc.

Lions Bay Capital Inc. is a TSX-V listed Investment Issuer that is focused on high return investment opportunities, principally in the mining, clean energy and clean technology sectors, where it provides public and private companies with strategic and financial support.

On behalf of the Board of Lions Bay.

John Byrne
Executive Chairman
Tel: +61 3 9236 2800
Email: jbyrne@lionsbaycapital.com

For more information, please visit the corporate website at www.lionsbaycapital.com or contact the above.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/66799


© Newsfilecorp 2020
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Financials
Sales 2020 -0,48 M -0,37 M -0,37 M
Net income 2020 -0,40 M -0,31 M -0,31 M
Net cash 2020 2,96 M 2,28 M 2,28 M
P/E ratio 2020 -3,62x
Yield 2020 -
Capitalization 8,72 M 6,73 M 6,74 M
EV / Sales 2019 -1,72x
EV / Sales 2020 3,10x
Nbr of Employees -
Free-Float 33,0%
Chart LIONS BAY CAPITAL INC.
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Lions Bay Capital Inc. Technical Analysis Chart | LBI | CA5362631064 | MarketScreener
Income Statement Evolution
Managers
NameTitle
John Joseph Byrne Executive Chairman, President & CEO
Anthony Balic Chief Financial Officer & Director
John Ross MacLachlan Independent Non-Executive Director
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