iQSTEL Completes Non-Conversion Agreements Halting All Further Conversions, Achieving Another Part of the Major Exchange Uplist Roadmap

NEW YORK, NY, Sept. 08, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- iQSTEL Inc. (OTC: IQST), a leading-edge 21st Century Enhanced Telecommunications Service Provider, is pleased to announce an agreement with the last matured noteholder has been reached, thereby succeeding in halting all further conversions.

As detailed in previous releases, iQSTEL has now reached non-conversion agreements with all matured note holders with today’s announced M2B agreement.

iQSTEL reached an agreement with M2B allowing for a moratorium on conversions until Nov 2020 with an extension option through Feb 2021. The extension is contingent upon a $150,000 payment due by Nov 30th, 2020. In addition, a repayment plan is in place moving forward.

As of this press release, iQSTEL has reduced the debt load significantly and halted conversions from M2B, as detailed above and in the corresponding 8-k linked below. The company’s Reg-A investor is pleased with this last and final halt to conversions and is expected to continue their support of iQSTEL.

“It has been a long road but our consistent efforts focused on business growth and strong acquisitions are bearing fruit as detailed in the recent 10-Q and press releases. Net income is a huge milestone, and a required part of our NYSE or Nasdaq uplist plans, along with debt reduction and halting of dilutionary conversions. We thank M2B for their support and wish them well on future endeavors,” Mr. Iglesias commented.

“This Lock-Up and Leak out agreement with M2B is another key component for our subsequent acquisition plans,” Mr. Iglesias added.

Full details are available in the corresponding 8-K.

https://www.otcmarkets.com/filing/html?id=14379465&guid=DTY6UKAXfk ...

About iQSTEL Inc.:

iQSTEL Inc (OTC: IQST) www.iQSTEL.com is a US-based publicly listed company offering leading-edge 21st Century Enhanced Telecommunications Services with a focus on a wide range of cloud-based enhanced services to the Tier-1 and Tier-2 carriers, corporate, enterprise, as well as the retail market. iQSTEL through its subsidiaries Etelix, SwissLink, QGlobal SMS, SMSDirectos, IoT Labs, IoT Smart Gas Platform, itsBchain offers a "one-stop-shopping” for international and domestic VoIP services, IP-PBX services, SMS exchange for A2P and P2P, OmniChannel Marketing, Internet of Things (IoT) applications (IoT Smart Gas Platform), 4G & 5G international infrastructure connectivity, as well as blockchain-based platforms: Mobile Number Portability Application (MNPA) and Settlement & Payments Marketplace for VoIP, SMS and Data.