SPoT Coffee Announces Shares for Debt Settlement

TORONTO, Oct. 15, 2021 /CNW/ - SPOT COFFEE (CANADA) LTD. (TSX-V: SPP) ("SPoT" or the "Company") is pleased to announce the completion of its previously announced shares for debt settlement.  The Company previously entered into agreements with three holders of outstanding unsecured promissory notes to settle the principal amounts owing thereunder (in the aggregate amount of $753,395) via the issuance of an aggregate of 15,067,900 common shares of the Company at a price of $0.05 per share.  All of the foregoing shares have been issued today and are subject to a statutory four-month hold period in accordance with applicable securities laws, which will expire on February 16, 2022.

Forward Looking Statements

Except for statements of historical fact relating to the Company, certain information contained herein constitutes forward-looking statements. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.

Forward-looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. The forward-looking information contained in this news release is expressly qualified by this cautionary statement. Except as required by applicable securities laws, the Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking statements.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the release.

SOURCE Spot Coffee (Canada) Ltd.

[email protected] or John Lorenzo, CEO [phone] Ext.221