GridAI settles $1.03M debt with $800K cash and 71,482 common shares at $3.25/share

GridAI Technologies Corp.

Settlement resolves $1,032,315 owed under Revolving Loan Agreement; avoids default demand.
Cash payment of $800,000 covers principal ($700K) and $100K interest; 71,482 shares satisfy remaining $232,315 interest.
Shares issued at $3.25 per share (5-day VWAP); lender releases all claims upon closing.
Closing must occur within 10 days; otherwise agreement terminates and debt remains enforceable.
Company had previously disclosed default demand letter from lender on April 1, 2026.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

GridAI Technologies Corp. entered into Debt Settlement and Subscription Agreement with 1396974 BC Ltd. (effective 2026-05-14).

Action: entry
Agreement: settlement
Counterparty: 1396974 BC Ltd.
Effective: 2026-05-14

Exact text from the filing

On May 14, 2026, the Company and the Lender entered into a Debt Settlement and Subscription Agreement (the “Settlement Agreement”)

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242 material agreements filed in the last 30 days. Browse all material agreements →

GridAI Technologies Corp. filing history →

Source: SEC EDGAR

accession 0001104659-26-064500

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