In Vancouver, British Columbia, Nextraction Energy Corp. (OTC: NXTFF) recently announced the acquisition of a demand promissory note (referred to as the “Note”) from an unrelated party with a principal amount of $155,000. The Corporation subsequently assigned the Note to a newly established wholly-owned subsidiary corporation, 1493259 B.C. Ltd. (the “Subsidiary”). In exchange for the Note, the Subsidiary issued 77,500 Class B shares and 10,000 Class A shares to the Corporation.
This strategic move enables the Subsidiary to access additional working capital and further strengthens the Corporation’s financial position. The transaction exemplifies Nextraction Energy Corp.’s commitment to expanding its operations and driving growth in the energy sector.
