InsuraGuest Technologies Reduces Debt with Shares
VANCOUVER, British Columbia, Aug. 14, 2020 (GLOBE NEWSWIRE) — via NetworkWire
InsuraGuest Technologies Inc. (the “Company”) (TSX-V: ISGI) (OTC: IGSTF), announces the issuance of a total of 4,901,625 shares of its common stock to various individuals and entities to reduce approximately $765,607.83 (CDN) of its debt which was incurred in connection with services rendered to the Company and its wholly-owned subsidiary, InsuraGuest, Inc., over the past year and half. Of the shares to be issued, 2,271,127 shares will be issued to Douglas K. Anderson, a director of the Company and its CEO, and 150,000 shares will be issued to an entity controlled by Logan B. Anderson, a director of the Company and its CFO. By converting these amounts to shares of stock, these directors intend to preserve the Company’s cash in light of the current pandemic.
InsuraGuest Technologies Inc.
Harnessing the Power of Technology to Reinvent Insurance
InsuraGuest Technologies (TSX.v: ISGI) is an insurtech (insurance + technology) company that’s disrupting the insurance landscape by utilizing its proprietary software platform to deliver digital insurance to multiple sectors. We are transforming the way insurance is delivered with the revolutionary idea that insurance should be bought, not sold.
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