Solar Energy Initiatives, Inc. (OTC: SNRY) Retires $135k Legacy Convertible Note, Eliminating Potential Dilution of Up to 1.35 Billion Shares
BLOOMINGTON, MN - November 3, 2026 ( NEWMEDIAWIRE ) - Solar Energy Initiatives, Inc. (OTC: SNRY) today announced that Bryan Wilkinson and Derrick Whitehead have reached an agreement to retire the Company’s sole outstanding convertible debt instrument. The 2014 convertible note, with a face value of $135,000, which was potentially convertible into as many as 1,350,000,000 shares of common stock, will be exchanged for a $100,000 non-convertible cash note. This was the only debt instrument on the Company’s books with conversion rights into equity. By retiring it, SNRY eliminates a significant source of potential future dilution and further strengthens its clean, shareholder friendly capital structure. “This is a meaningful step for SNRY and its shareholders,” said Derrick Whitehead, President and Chief Executive Officer. “Removing this legacy convertible note protects the existing holder base from the risk of substantial dilution and aligns with our commitment to a non-toxic, non-dilutive platform as we execute on acquisitions and growth. Bryan and I worked together to get this done in a way that is fair to the Company and its shareholders.” Bryan A. Wilkinson, Chief Operating Officer
Plan Gratis · Plus 29 CA$ o Pro 99 CA$/mes
