Conversion of Debenture Interest Into Equity and Security Based Compensation

LAVAL, Quebec, March 01, 2022 (GLOBE NEWSWIRE) -- Geekco Technologies Corporation (the “Corporation” or “Geekco”) (TSX-V: GKO; OTCQB: GKOTF) has announced that in accordance with the terms and conditions of the convertible debenture units issued on March 1, 2021 (the “Debentures Units”), Geekco has agreed, subject to the approval of the TSX Venture Exchange (the “TSXV”), to issue 346,018 class A shares (the “Common Shares”) as settlement of payments of interest equal to $100,000 accrued between March 1, 2021 to February 28, 2022. The Common Shares will be issued at the $0.289 per Common Share and will be subject to a statutory four-month hold period beginning as of the date of issuance of the Common Shares. The transaction is subject to the approval of the TSXV.

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