BrandPilot AI Inc. settles debt by issuing shares
3 reports, 1 independent
Updated Fri 00:00
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What happened
BrandPilot AI Inc. announced the completion of a debt settlement on October 9, 2026, by issuing 12,831,725 units at a deemed issue price of $0.02 per unit. This action fully satisfied $256,634.50 of indebtedness owed to certain creditors. Of the units issued, 9,581,725 were used to satisfy accounts payable and cash advances, while 3,250,000 satisfied a convertible debenture.
Why it matters
The company used equity issuance to satisfy outstanding debt obligations, significantly altering its capital structure. Each unit issued consists of one common share and one common share purchase warrant.