Fountain Asset Corp. Closes Share for Debt Transaction

TORONTO, Dec. 02, 2024 (GLOBE NEWSWIRE) -- FOUNTAIN ASSET CORP. (TSXV: FA) (the "Company") is pleased to announce that it has closed the settlement of $127,500 of indebtedness through the issuance of an aggregate of 2,550,000 subordinate voting shares of the Company (the “Shares”) at a deemed price of $0.05 per Share (the "Debt Settlement"). The indebtedness was owed to Andrew Parks for his services as Chief Executive Officer of the Company. The Debt Settlement was approved by shareholders of the Company at the special meeting of shareholders held on October 30, 2024. The Shares are subject to a statutory hold period expiring on March 30, 2025

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