VANCOUVER, British Columbia, Jan. 31, 2018 (GLOBE NEWSWIRE) -- Targeted Microwave Solutions Inc. (TSXV:TMS) (“TMS”) announced today that it has reached agreements, respectively, with Satellite Overseas (Holdings) Limited and James Young, the Chief Executive Officer of TMS, to settle amounts owed and totaling US$2,686,650 by the issuance of 66,204,429 common shares of TMS at a deemed price of $0.05 per share.
The debt settlement transaction is subject to TSX Venture Exchange approval.
On behalf of the Board of Directors,
"Dr. James Young"
Chief Executive Officer and Chairman
About Targeted Microwave Solutions Inc.
Targeted Microwave Solutions Inc. is a clean technology company specializing in mass-flow microwave drying applications for bulk aggregates such as clays, coal and biomass.
The Company is a reporting issuer in Canada and is listed on the following stock exchanges:
| TSX-V: TMS | FRA: A2ACNT | OTCQB: TGTMF |
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