TSX-V:
EWK
OTCQB: EAATF
VANCOUVER, BC, Oct. 29,
2024 /CNW/ - Earthworks Industries Inc. (the
"Company") has, in earlier news releases, detailed the Agreement
with North Bay Corporation ("North Bay") as amended, to settle the
Company's previously existing debt to North Bay by the payment of $U.S. 1,650,000,
together with accrued interest, on or before November 15, 2024.
By a new Amendment signed by the Company and North Bay, October 28,
2024, it has been agreed that:
(a) the amount payable to
North Bay is increased by $U.S.
500,000 to $U.S. 2,150,000.
(b) the deadline for the payment of
the $U.S. 2,150,000, plus accrued interest, has been extended to
November 15, 2025.
Interest at a rate of 10.0% per annum will continue to be
payable to North Bay on a base
figure of $U.S. 6,000,000 for the period from October 15, 2023, until the payable amount is
paid.
Neither the TSX Venture Exchange nor its regulation services
provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this News Release.
SOURCE Earthworks Industries Inc.