Bion reduces fully diluted shares by ~14.4M via settlements exchanging obligations for 8.1M shares

BION ENVIRONMENTAL TECHNOLOGIES INC

Board ratified settlement agreements with two affiliates and three non-affiliates converting various obligations into 8,101,746 common shares.
Forfeited instruments (deferred comp, convertible notes, warrants, options) could have added 22,498,405 shares; net reduction is 14,369,659.
Bassani Family Settlement: 7,200,000 shares; cancels ~$1.6M in notes and over 7M warrants.
Mark Smith Settlement: 400,000 shares; cancels $126,958 convertible note plus waives $84,664 deferred comp and $41,246 expenses.
Shares to be issued by January 15, 2026 or earlier upon holder election; all obligations settled.

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