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TORONTO, Feb. 3, 2025 /CNW/ - PUDO Inc. ("PUDO" or "the Company") (CSE: PDO) (OTCQB: PDPTF) announces a private placement and debt settlement consisting of the issuance of up to 4,629,630 Common shares of the Company (the "Issuance"). The Issuance will settle debt related to trade accounts payable (the "Debt Settlement") of up to $400,000 owed to certain of its creditors (the "Creditors") in consideration for the issuance of up to 2,692,692 Common shares of the Company (each, a "Settlement Share"). Concurrently the Company will be offering up to 1,666,667 Common shares of the Company (each, an "Offering Share")through a private placement share offering (the "Private Offering") to qualified existing and new investors. Both Settlement Shares and Offering Shares (collectively, the "Shares") will be issued at a deemed price of $0.135 per Share in accordance with the policies of the Canadian Securities Exchange (the "CSE"). All Shares, if issued, will be subject to a four-month and one-day hold period. Closing of the Issuance is subject to certain conditions including the receipt of all necessary regulatory approvals including the approval of the CSE.
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