VANCOUVER, BC / ACCESSWIRE / ![]()
August 6, 2020 / Snipp Interactive Inc. ("Snipp" or the "Company") (TSXV:SPN, Financial)(OTC PINK:SNIPF), a global provider of digital marketing promotions, rebates and loyalty solutions, announces that it has reached an agreement (the "Debt Settlement") with four officers, two directors and five employees (the "Related Parties") to settle an aggregate of $130,000 in debt owed by the Company to the Related Parties for unpaid compensation. The debt will be converted into common shares of the Company ("Common Shares") at a price of $0.015 per Common Share, subject to receipt of the approval from the TSX Venture Exchange. It is expected that, upon the completion of the Debt Settlement, subject to receipt of the requisite approvals, the Company will issue 8,666,667 Common Shares to the Related Parties.
