LAS VEGAS, July 21, 2016 (GLOBE NEWSWIRE) — Defense Technologies International Corp (OTCQB:DTII) (The Company), a developer of security technologies, announces debt restructuring and consolidation in preparations to move towards production.
On July 18, 2016, the Company closed agreements to buy-out and restructure two convertible note holders (EMA and Crown Bridge) holding an aggregate of $130,000 in convertible debt. This represents the first tranche of a proposed restructuring and consolidation of the Company’s convertible debt into one financing partner, which should provide increased market stability from any conversion into the market.
The Company is currently in negotiations with a prospective funding partner to provide no…
Read the full article at: http://www.globenewswire.com/news-release/2016/07/21/857917/0/en/Defense-Technologies-Announces-Debt-Consolidation-Update-on-Production-Funding.html