CLIP MONEY INC - CLPMF STOCK NEWS

Clip Money, Inc. (TSXV:CLIP) (OTCQB:CLPMF) has announced the promotion of Brian Bailey from Chief Operating Officer to President, effective immediately. Bailey will focus on enhancing investor relations while continuing to oversee the company's operations. Since joining Clip in 2021, he has played a crucial role in launching the U.S. network, attracting interest from major enterprise retailers. His previous experience includes senior positions at Cardtronics and NCR Financial Services. CEO Joseph Arrage praised Bailey’s leadership and industry knowledge as vital for future expansion in North America. Clip Money provides innovative cash management solutions through a network of secure drop box locations, improving the deposit experience for businesses.

Clip Money Inc. (TSX-V: CLIP) (OTCQB: CLPMF) announced a modification to its private placement of convertible notes and warrants due to heightened investor interest. The Modified Offering aims to raise up to CAD$4,000,000 through note units priced at $1,000 each. Each note will feature a 12% annual interest rate, convertible into common shares at a price of $0.50, maturing in 36 months. The company may enforce conversion under specific conditions, including a mandatory conversion linked to a qualified financing of at least US$5 million. Additionally, warrants are available for purchase at CAD$0.70, with a duration of 36 months. The proceeds from this offering will support network expansion, customer acquisition, and general corporate purposes. Closing is anticipated by the end of April 2023, pending necessary approvals.