Sabio Announces Extension of Maturity Date of Previously Issued Debentures
Not for distribution to
The original maturity date of the Debentures is
In connection with the Debenture Extension, the lenders (being the holders of the Debentures) will be entitled to receive additional bonus common shares in the capital of the Company (each, a "Bonus Share") equal to 10% of the principal amount of the Debentures, divided by the greater of: (a) the volume-weighted average trading price of the Company's shares on the
All other terms and conditions of the Debentures, including the interest rate, remain unchanged.
The Debenture Extension and the issuance and listing of the Bonus Shares remains subject to acceptance by the TSXV. Any Bonus Shares issued will be subject to applicable hold periods.
All securities issued pursuant to the Debenture Extension are subject to a statutory hold period expiring on
An insider of the Company holds Debentures and will receive Bonus Shares in connection with the Debenture Extension, which constitutes a "related party transaction" under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company is relying on the exemptions in sections 5.5(b) (issuer not listed on a specified market) and 5.7(a) (fair market value not more than 25% of market capitalization) of MI 61‑101. Accordingly, no formal valuation or minority shareholder approval is required.
None of the securities issued in connection with the Offering will be registered under the United States Securities Act of 1933, as amended (the "1933 Act"), and none of them may be offered or sold in
About Sabio
Sabio consists of a proprietary ad-serving technology platform that partners with the top ad- supported streaming platforms and apps in the world and App Science™, a non-cookie-based software as a service (SAAS) analytics and insights platform with AI natural language capabilities, and Creator Television® (Creator TV), the first creator-led streaming network and content studio dedicated to bringing the authenticity and energy of social media storytelling to TV.
For more information, visit: sabioctv.com
Forward-Looking Statements
This press release may contain certain forward-looking information and statements ("forward- looking information") within the meaning of applicable Canadian securities legislation, which is often, but not always, identified by the use of words such as "believes," "anticipates," "plans," "intends," "will," "should," "expects," "continue," "estimate," "forecasts," or the negative thereof and other similar expressions. All statements herein other than statements of historical fact constitute forward-looking information, including statements regarding the Debenture Extension, the issuance of Bonus Shares, the acceptance of the Debenture Extension and Bonus Shares by the
The forward-looking information contained in this press release is expressly qualified by this cautionary statement and is made as of the date hereof. The Company disclaims any intention and has no obligation or responsibility, except as required by law, to update or revise any forward- looking information, whether as a result of new information, future events, or otherwise.
This news release shall not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction.
Neither the
For further information:
Email: investor@sabio.inc
Phone: 1.844.974.2662
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