Ayubowan Completes Debt Settlement
AYUBOWAN CAPITAL LTD.
Suite 2200, 885 West Georgia Street Vancouver, British Columbia V6C 3E8
NEWS RELEASE
AYUBOWAN COMPLETES DEBT SETTLEMENT
July 28, 2016 – Vancouver, British Columbia – Ayubowan Capital Ltd. (the “Company”) (TSXV: AYB.H) is pleased to announce that it has completed its previously announced debt settlement with certain creditors of the Company. Outstanding indebtedness of $75,000 was settled through the issuance of 1,500,000 common shares at a deemed price of $0.05 per share.
All common shares issued in connection with the settlement are subject to a four-month-and-one-day statutory hold period.
In connection with completion of the settlement, John Nugent and David Nelson, each of Vancouver, British Columbia acquired 460,000 common shares and 435,000 common shares, respectively. Following completion of the settlement, John Nugent has ownership of 466,500 common shares of the Company, representing approximately 17.5% of the Company’s current issued and outstanding common shares, and David Nelson has ownership of 517,073 common shares, representing approximately 19.4% of the issued and outstanding common shares.
The common shares were acquired by each of John Nugent and David Nelson for investment purposes. In the future, additional securities of the Company may be acquired or disposed of by each, through the market, privately or otherwise, as circumstances or market conditions may warrant. For further information and to obtain copies of the early warning reports filed under applicable Canadian provincial securities legislation in connection with the acquisitions by each of John Nugent and David Nelson, please go to the Company’s profile on SEDAR at www.sedar.com, or contact David Nelson.
For further information, contact David Nelson at [email protected].
On behalf of the Board,
Ayubowan Capital Ltd.
David Nelson, Chief Executive Officer
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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