Legible Announces Corporate Update

Rhea-AI Summary

Legible Inc. (CNSX: READ, OTC: LEBGF) announces the departure of Chief Publishing Officer Cameron Drew and Chief Revenue Officer Wai-Ming Yu. Their contributions included securing eBooks and developing a go-to-market strategy. Legible has consolidated its product team and brought the publishing sector under Angela Doll's leadership. The company aims for significant revenue growth following a streamlined approach. Management is confident in delivering timely financial statements for the year ending December 31, 2021. Legible strives to enhance the eBook experience for global readers.

Positive

• Consolidation of product and publishing teams for enhanced efficiency.
• Streamlined management structure focused on revenue growth.
• Timely release of financial statements anticipated.

Negative

• Departure of key executives may impact company strategy and operations.

VANCOUVER, British Columbia--(BUSINESS WIRE)-- Legible Inc. (CSE: READ) (FSE: D0T) (OTC: LEBGF) (“Legible” or the “Company”) announces the departure of Mr. Cameron Drew, Chief Publishing Officer and Ms. Wai-Ming Yu, Chief Revenue Officer. “Both Mr. Drew and Ms. Yu have contributed to building our foundation. Mr. Drew has helped Legible to secure hundreds of thousands of eBooks that are currently being onboarded onto Legible’s eBook entertainment platform,” said Kaleeg Hainsworth, President and CEO of Legible. “Ms. Yu has built an entire go-to-market strategy for Legible, established the terms and direction with key marketing stakeholders, and refined our brand strategy for rapid revenue growth. A leaner, strategic team of developers are now executing on this foundational work with a clear roadmap for success. We are grateful for the extraordinary work and support that they have provided to the Company.”

Mr. Hainsworth added, “We wish Cameron and Wai success in their future endeavors. Legible has consolidated the product team to a strategic set of senior developers. We have brought the publishing team under Ms. Angela Doll, our former Chief Publishing Officer, and have folded the curation and the content creation and acquisition roles into one team. Revised sales and marketing plans, relationships, and strategies are quickly being implemented. Our December 31, 2021, year-end audited financial statements are on track to be released on time by the end of this month. Legible’s management team and board of directors are excited and confident that Legible, in its new streamlined form, will deliver significant revenues in the coming months."

About Legible Inc.
Legible is a book entertainment and media company that has developed an online eBook marketplace called Legible.com, with an eBook reading system capable of showcasing next-generation book content, and a world-class digital conversion publishing service for creating multimedia eBooks and born-accessible eBook content.

Founded and led by a team of technologists, authors, eBook publishers, designers, and publishing industry insiders, At the London Book Fair 2022 held April 5 -7 multiple publishers, distributors and authors confirmed that Legible is transforming the eBook industry. With a mission to provide delightful eBook experiences to readers around the globe through any browser-enabled device, Legible is committed to providing delightful eReading to readers that value immersive entertainment experiences through beautifully constructed and content dynamic books, provided by a company that promotes sustainability, accessibility, and global literacy.

Please visit Legible.com and discover the place where eBooks come to life.

Readers are invited to visit Legible’s continually evolving curated Staff-Picks Bookshelf: https://legible.com/ca/list/staff-picks

Forward-Looking Information
Certain statements in this press release are forward-looking statements and are prospective in nature. Forward-looking ‎statements are not based on historical facts, but rather on current expectations and projections about future events, many ‎of which, by their nature, are inherently uncertain and outside of the Company’s control and are therefore subject to risks ‎and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the ‎forward-looking statements. These statements generally can be identified by the use of forward-looking words such as “may”, “should”, “will”, “could”, “intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe” or “continue”, or the negative ‎thereof or similar variations. These statements include forward looking statements regarding expectations for revenue sources and release of financial statements by the Company. Those assumptions and factors are based on information currently available to the Company. Although management of the ‎Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as ‎anticipated, estimated or intended. Among the key factors that could cause actual results to differ materially from those ‎projected in the forward-looking information and statements are the following: changes in general economic, business, and political conditions, ‎including changes in the financial markets; changes in applicable laws; ‎and the diversion of management time. Should one or more of these risks, uncertainties or ‎other factors materialize, or should assumptions underlying the forward-looking information or statements prove incorrect, ‎actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated, or ‎expected. There can be no assurance that such statements will prove to be accurate, as actual results and future events ‎could differ materially from those anticipated in such statements. Readers should not place undue reliance on forward-‎looking statements and forward-looking information. The forward-looking information contained in this release is made as of ‎the date hereof and the Company assumes no obligation to update or revise any forward-looking statements or forward-‎looking information that are incorporated by reference herein, whether as a result of new information, future events or ‎otherwise, except as required by applicable securities laws. The foregoing statements expressly qualify any forward-looking ‎information contained herein. All subsequent written and oral forward-looking information and statements attributable to the ‎Company or persons acting on its behalf is expressly qualified in its entirety by this notice.‎

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View source version on businesswire.com: https://www.businesswire.com/news/home/20220413005980/en/

Legible Inc.

Kaleeg Hainsworth / President & CEO

1 (672) 514-2665

invest@legible.com

www.Legible.com

Investors.Legible.com

Source: Legible Inc.

FAQ

What recent changes occurred in Legible Inc.'s executive team?

Legible announced the departure of Chief Publishing Officer Cameron Drew and Chief Revenue Officer Wai-Ming Yu.

How does Legible plan to enhance its operations after the executive departures?

Legible has consolidated its product team and streamlined its management for improved efficiency.

When will Legible Inc. release its financial statements?

Legible's year-end audited financial statements are scheduled to be released by the end of this month.

What is the stock symbol for Legible Inc.?

Legible Inc. trades under the stock symbol LEBGF on OTC markets.