DEADLINE FOR EARTHWORKS PAYMENT TO NORTH BAY EXTENDED TO NOVEMBER 15, 2025

TSX-V: EWK
OTCQB: EAATF

VANCOUVER, BC, Oct. 29, 2024 /CNW/ - Earthworks Industries Inc. (the "Company") has, in earlier news releases, detailed the Agreement with North Bay Corporation ("North Bay") as amended, to settle the Company's previously existing debt to North Bay by the payment of $U.S. 1,650,000, together with accrued interest, on or before November 15, 2024.

By a new Amendment signed by the Company and North Bay, October 28, 2024, it has been agreed that:

(a)   the amount payable to North Bay is increased by $U.S. 500,000 to $U.S. 2,150,000.

(b)   the deadline for the payment of the $U.S. 2,150,000, plus accrued interest, has been extended to November 15, 2025.

Interest at a rate of 10.0% per annum will continue to be payable to North Bay on a base figure of $U.S. 6,000,000 for the period from October 15, 2023, until the payable amount is paid.                                                                                                                                 

Neither the 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 this News Release.

SOURCE Earthworks Industries Inc.