Legible Announces Debt Settlement

Rhea-AI Summary

Legible Inc. announces the issuance of 250,000 common shares at $0.135 per share for the settlement of $33,750 in outstanding debt.

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• Legible Inc. settles $33,750 in outstanding debt through the issuance of 250,000 common shares.

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• None.

VANCOUVER, British Columbia--(BUSINESS WIRE)-- Legible Inc. (CSE: READ) (OTCQB: LEBGF) (FSE: D0T) ("Legible” or the “Company") announces it has issued 250,000 common shares at $0.135 per share (being the closing price of the common shares at the date hereof) regarding the settlement of $33,750 in outstanding indebtedness. All common shares are subject to a 4-month hold period.

About Legible Inc.

Legible is a groundbreaking, mobile-centric global company specializing in eBooks and audiobook entertainment, boasting a market opportunity exceeding billions of dollars. Legible’s extensive partnerships encompass four of the Big 5 Publishers and the world's largest eBook distributor, enabling it to seamlessly deliver over 2 million eBooks and audiobooks, effectively transforming any smart device into a dynamic library and eBookstore.

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

Cautionary Note Regarding Forward-Looking Information

This Press Release contains certain statements which constitute forward-looking statements or information (“forward-looking statements”), including statements regarding Legible’s business. Such forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond Legible's control, including the impact of general economic conditions, industry conditions, currency fluctuations, the lack of availability of qualified personnel or management, stock market volatility and the ability to access sufficient capital from internal and external sources. Although Legible believes that the expectations in its forward-looking statements are reasonable, they are based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward- looking information. As such, readers are cautioned not to place undue reliance on the forward- looking information, as no assurance can be provided as to future results, levels of activity or achievements. The forward-looking statements contained in this document are made as of the date of this document and, except as required by applicable law, Legible does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement.

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

View source version on businesswire.com: https://www.businesswire.com/news/home/20231025707405/en/

Contact Legible:

Deborah Harford

EVP, Global Strategic Partnerships

1 (672) 514-2665

(CSE: READ) (OTCQB: LEBGF) (FSE: D0T)

Email: invest@legible.com

Website: https://invest.legible.com

Source: Legible Inc.

FAQ

What is the settlement amount of the outstanding debt?

The outstanding debt settlement amount is $33,750.

How many common shares were issued for the settlement?

A total of 250,000 common shares were issued for the settlement.

What is the price per share for the issuance?

The price per share for the issuance is $0.135.

What is the hold period for the common shares?

All common shares are subject to a 4-month hold period.