ZeU Commences Trading on CSE; Announces Conversion of Debentures to Further Strengthen its Balance Sheet

Tickers: XCNQ:ZEU
Tags: #Mining, #Technology, #Blockchain

Montreal, December 30, 2019 / TheNewswire / ZeU Crypto Networks Inc. (CSE: ZEU) started trading today on the Canadian Securities Exchange under the ticker symbol “ZEU.”

Additionally, the Corporation announces that it has elected to exercise its rights under the 10% convertible debentures dated July 5, 2018 (the “10% Debentures“), and the 12% convertible debentures dated November 12, 2019 (the “12% Debentures“), to convert: (i) $1,191,208, representing 25% of the principal amount together with accrued interest of the outstanding 10% Debentures, into 1,191,208 common shares (each a “Share“) in the capital of the Corporation at a deemed price of CA$1.00 per Share, and (ii) $3,963,445, representing 50% of the principal amount together with accrued interest of the outstanding 12% Debentures, into 2,642,207 Shares at a price of CA$1.50 per Share, upon the listing for trading of the Shares on the CSE (the “Liquidity Event“).

The Corporation confirms that as of the opening of markets on December 30, 2019, a Liquidity Event had occurred. In accordance with the terms of the debentures, ZeU will deliver direct registration system advices representing the Shares issued upon the conversion to registered holders of debentures (the “Debenture holders“), which, combined with this news release, will constitute notice to the Debenture holders of the Liquidity Event. Accordingly, the Corporation confirms that on December 30, 2019 (the “Liquidity Event Date“), the then outstanding applicable portion of the debentures will be deemed to be surrendered for conversion to Shares.

All securities issued pursuant to the conversion of the 12% Debentures are subject to the balance of the applicable statutory hold period ending March 13, 2020.


“Frank Dumas”

Frank Dumas
President & CEO

About ZeU

ZeU is a forward-thinking Canadian technology company that has developed a state-of-the-art blockchain protocol, providing the foundation for the next-generation of crypto networks. Thanks to its high level of sophistication, ZeU’s technology maximises transparency, security and scalability as well as big data management. ZeU’s strategy is to monetize blockchain transactions in diverse sectors such as payment, gaming, data, and healthcare.

The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.

Copyright (c) 2019 TheNewswire – All rights reserved.

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