Bion settles Fair Oaks construction litigation; issues $1.77M convertible note to Hamstra

BION ENVIRONMENTAL TECHNOLOGIES INC

Settlement with Hamstra Builders dismisses all mechanics liens and litigation related to Fair Oaks Ammonia Recovery System construction.
Bion issues $1,774,512.72 convertible promissory note to Hamstra: 10% interest, maturity Dec 31, 2026, cash payment of $653,915 at future financing, balance convertible at that financing price.
All holders of Bion's Secured Convertible Notes and May 2024 Notes (maturity June 30, 2026) extend maturity to Dec 31, 2026; Bion Loan Group note extended to Jan 31, 2027.
CEO Craig Scott says settlement completes cleanup of capital structure and readies company for recapitalization and growth.

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