16th Dec 2019 13:30
(Alliance News) - Cannabidiol and natural resources company Zoetic International PLC said Monday that the debt owed to it by Diversion Technologies LLC has been settled in full.
Zoetic said it has completed the buyback of 950,000 shares from Diversion at a price of 7.80 pence per share, which was announced in late November. No payment has been made to Diversion, however GBP74,100, around USD99,014, has gone towards reducing the debt owed by it to Zoetic.
In addition, Diversion has made a payment in cash of USD44,854 to Zoetic, leading to a fully settled debt.
Zoetic will publish its interim results on December 23.
Shares in Zoetic International - which is headquartered in Perth, Scotland - were down 0.4% at 6.42 pence on Monday in London.
By Dayo Laniyan; [email protected]
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