Montréal - TheNewswire - March 21, 2022 - ZeU Technologies Inc. (CSE:ZEU) (CNSX:ZEU.CN) (OTC:ZEUCF) i s pleased to disclose that it has reduced its debts by more than $3.8 million.
On March 21, 2002, the Company exercised its option to repay the balance of the Kamari debentures for an equivalent principal of $3,417,000 and pay all outstanding interest representing $398,806.03. The total payment amount is equivalent to $3,815,806.03 . 15,338,551 KAM tokens were used to complete the transaction. The Company still has 5,294,894 KAM tokens in its digital wallets for which no value is assigned.
It is important to note that the decrease in ZeU’s financial liabilities will directly impact the consolidated financial statements of St-Georges Eco-Mining Corp. (CSE: SX) (OTC: SXOOF) (FSE: 85G1), which consolidates ZeU’s financial results in its interim and annual financial statements.
ON BEHALF OF THE BOARD OF DIRECTORS
Frank Dumas President & CEO
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 encrypted and distributed networks. Thanks to its high level of sophistication, ZeU’s technology maximizes 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.
Neither the CSE nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
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