LEGIBLE INC - LEBGF STOCK NEWS

Legible Inc. (CNSX: READ, OTC: LEBGF) has entered a partnership with Metrolinx to provide ebooks on the GO Transit network, which serves over seven million people in Ontario. This collaboration allows Legible to supply ebooks for the GO Wi-Fi Plus entertainment portal and offer a quarterly ebook for the GO Transit Reads program, enhancing reading experiences for commuters. The North American ebook market is projected to grow at 7% annually until 2025, and Legible aims to capture significant market share, especially with its upcoming subscription service, Legible Unbound.

Legible Inc. has announced an increase in its private placement of debenture units, raising the total offering from $1,000,000 to $2,000,000. The first tranche closed with 100.63 debenture units priced at $10,000 each, generating gross proceeds of $1,006,300. After fees and debt settlements, net proceeds are $994,300. Each debenture unit features a 15% unsecured convertible debenture and warrants. The funds will support general working capital, with a second tranche anticipated within two weeks. The company emphasizes strong investor demand and its innovative multimedia eBook offerings.

Legible Inc. (CSE: READ) has announced a non-brokered private placement of debenture units, aiming for gross proceeds of up to $1,000,000. Each Debenture Unit consists of a 15% convertible debenture worth $10,000 and 50,000 common share purchase warrants. The maturity period is three years, and the conversion price is set at $0.10 per share. Closing is expected around June 8, 2022, pending regulatory approval. Funds will be used for general working capital purposes.

Legible Inc. has announced the launch of its Rest of World eBookstore, expanding its reach into the UK and Ireland, where digital book sales reached GBP 3.2 billion in 2021. This strategic move aims to accelerate readership and revenue growth. CEO Kaleeg Hainsworth emphasizes that this expansion will enhance their market presence and drive profitability in 2022. Additionally, Legible is developing new revenue streams including 'Living Books' and Audiobooks, supported by robust marketing campaigns. These efforts position Legible for significant growth in the digital publishing sector.

Legible Inc. (OTC: LEBGF) has appointed Ed Duda as its new Chief Financial Officer. With over 30 years of experience in public and private finance sectors, Duda aims to enhance Legible's profitability and operational efficiency. His previous role was Managing Director at Delmac Pacific Management Inc. Duda emphasized Legible's potential to revolutionize the eReading market with its unique Living Books platform and extensive eBook contracts. CEO Kaleeg Hainsworth expressed confidence in Duda's leadership to drive global growth and strengthen corporate governance.

Legible Inc. (CSE: READ, OTC: LEBGF) has launched a new feature called Legible Bookshelves, enabling users to create and share up to 10 personalized collections of ebooks, with each collection holding up to 100 titles. This innovative offering aims to enhance customer engagement and create new revenue streams by allowing organizations to sponsor curated bookshelves and corporate reading accounts. Legible Bookshelves will support the company's mission for global literacy and accessibility, setting it apart from traditional ebook platforms.

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.

Legible Inc. (OTC: LEBGF) is undergoing a strategic corporate restructuring, resulting in the layoffs of key personnel, including the former CFO and Head of Accessibility. The company is actively seeking a new CFO while maintaining a consulting relationship with Laura Brady to enhance accessibility. Legible aims to capitalize on opportunities from the London Book Fair and has engaged Hybrid Financial Ltd. for marketing services, with a contract worth $22,500 monthly for 12 months. The company focuses on providing next-generation eBook experiences.

Legible Inc. has announced a significant reduction in its workforce from 60 to 37 employees, effective April 4, aimed at streamlining operations and cutting the annual burn rate by nearly $2 million. This restructuring entails a one-time cost of $75,200. CEO Kaleeg Hainsworth emphasized this decision supports their revenue growth strategy for 2022 and beyond. Hainsworth will also take over responsibilities from the former CTO, Adam Zouak, while presenting at the London Book Fair on April 5 to advance partnerships with major publishers.