Duesenberg Technologies Converts Debt into Shares
Penang, Malaysia – (Newsfile Corp. – January 9, 2023) – Duesenberg Technologies Inc. OTCQB: DUESYF (the Company or “Duesenberg”) announced today that it issued 2,699.463 shares of its common share (the Shares) at USD$0.11 per share on conversion of $265.674 that the Company owed its Chief Strategy Officer, Brendan Norman, for monthly payroll and a total $31,267 due to third party notes payable (the Conversion). As the debt holders verified that they were not U.S. citizens and had not been granted shares, the Shares were issued in accordance with Regulation S of United States Securities Act of 1983, as amended (the “Act”). Persons as defined by Rule 902(k), Regulation S of this Act.
Additional information about the Debt Conversion can be found in the Current Report on Form 8K, which was filed with the SEC by the Company on January 9, 2023.
The above does NOT constitute an offer to purchase or solicitation of an invitation to sell any Company securities in the United States. The Act has not registered the securities and they cannot be offered or purchased in the United States or by U.S. residents unless an exemption is granted.
About Duesenberg Technologies Inc.
Duesenberg Technologies Inc. was created out of the ambition of experienced investors in marketing and online business. Our goal was to support entrepreneurs and businesses transform their visions and ideas into successful businesses. The Company’s business strategy is heavily based on environmentally-friendly technologies. Duesenberg Technologies’ goal to be climate-neutral across its entire value chain is in accordance with the Paris Agreement. Through the Development in Energy Transition Goal, the Company is committed energy resilience. This strategy highlights the need to immediately reduce greenhouse gas emissions, which will help to mitigate the effects on climate change, lower energy use, improve air quality, and reduce global warming. The Company can play an important role in all three of these goals by reducing environmental impact through the production of a new type luxury electric vehicle.
This is the Board of Directors.
Lim, Hun Beng (Joe), President
Duesenberg Technologies Inc.
Cautionary Statement on Forward-Looking Information
This news release, other than statements of historical fact, contains forward-looking information within the meanings applicable to securities law. Forward-looking information is often described by words like “plan”, “expect”, “project”, “intend”, believe”, “anticipate”, and other similar words. It also includes statements that certain events or conditions “may” or “will”. Forward-looking information is based on opinions and estimates as of the date of the statements. Actual events or results could differ materially to those predicted in forward-looking statements. This includes delays or uncertainties related to regulatory approvals or research and development for an Electric Vehicle. Forward-looking information is subject to uncertainties, which include factors beyond the Company’s direct control. The Company’s business plans as described in this newsrelease are not guaranteed to be implemented within the timeframe or terms stated herein. Except as required by law, the Company is not obligated to update forward-looking statements if circumstances change or management’s opinions or estimates are changed. Forward-looking statements should not be relied upon by the reader. Additional information about financial risks and uncertainties is available in the Company’s filings. These files are available at www.SEC.gov. We are looking for safe harbor.
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