VANCOUVER, British Columbia, Oct. 04, 2019 (GLOBE NEWSWIRE) — Lexington Biosciences, Inc. (CSE: LNB) (the “Company” or “Lexington”) announces that it has reached agreement with third parties as well as certain directors and officers (collectively the “lenders”) of the Company to convert previous advances and unpaid amounts for services received of $654,186, in aggregate, into unsecured demand loans bearing interest at 16% per annum. As a result of the interest being applied retroactively to the date the advances or services were made the Company owed these parties $744,203 as at September 30, 2019, which is the aggregate amount of the unsecured demand loans issued.

Bay Street News