Toronto, Ontario--(Newsfile Corp. - December 22, 2020) - SBD Capital Corp. (CSE: SBD), (the "Company") announces that it has not been successful in attracting and sourcing funding for its business plan and strategy due to nominal working capital and significant debt on its balance sheet.
The Company is seeking alternatives to secure funding including possible debt reduction by conversion of debt which will cause significant dilution.
Further, the Company would still need to source fresh equity for working capital as well. Further details will be provided as they become available.
On behalf of the Board,
SBD Capital Corp.
Aleem Nathwani, Chief Executive Officer
(416) 361-2515
This news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "would", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Forward-looking information is based on the opinions and estimates of management at the date the information is provided, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's Management's Discussion and Analysis. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking information.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/70793
