Reklaim Ltd. Extends Expiring Debentures and Closes Debt Settlement
Reklaim (OTC Pink: MYIDF) (TSXV: MYID) has announced two key developments. First, the company has extended the maturity date of CEO Neil Sweeney's senior secured debenture from February 24, 2025, to February 12, 2027. The amended debenture is valued at $205,000, reflecting previous repayments made by the company. All other holders of 2022 debentures have been repaid.
This extension qualifies as a related party transaction under TSXV Policy 5.9 and MI 61-101, but Reklaim was exempt from formal valuation and minority shareholder approval requirements as the transaction value is below 25% of the company's market capitalization.
Additionally, Reklaim has received TSXV approval to issue 16,380 common shares to Canadian platform users who participated in beta testing for a new product feature. These shares will be subject to a four-month and one-day statutory hold period.
Reklaim (OTC Pink: MYIDF) (TSXV: MYID) ha annunciato due sviluppi chiave. In primo luogo, l'azienda ha esteso la data di scadenza del debito garantito senior del CEO Neil Sweeney dal 24 febbraio 2025 al 12 febbraio 2027. Il debito modificato è valutato 205.000 dollari, riflettendo i rimborsi precedenti effettuati dall'azienda. Tutti gli altri detentori di debentures del 2022 sono stati rimborsati.
Questa estensione si qualifica come una transazione con parti correlate secondo la Politica 5.9 della TSXV e MI 61-101, ma Reklaim è stata esentata dai requisiti di valutazione formale e approvazione degli azionisti di minoranza poiché il valore della transazione è al di sotto del 25% della capitalizzazione di mercato dell'azienda.
Inoltre, Reklaim ha ricevuto l'approvazione della TSXV per emettere 16.380 azioni ordinarie agli utenti della piattaforma canadese che hanno partecipato al beta testing per una nuova funzionalità del prodotto. Queste azioni saranno soggette a un periodo di blocco legale di quattro mesi e un giorno.
Reklaim (OTC Pink: MYIDF) (TSXV: MYID) ha anunciado dos desarrollos clave. En primer lugar, la empresa ha extendido la fecha de vencimiento del bono garantizado senior del CEO Neil Sweeney del 24 de febrero de 2025 al 12 de febrero de 2027. El bono modificado está valorado en 205.000 dólares, reflejando los reembolsos previos realizados por la empresa. Todos los demás tenedores de bonos de 2022 han sido reembolsados.
Esta extensión califica como una transacción con partes relacionadas bajo la Política 5.9 de TSXV y MI 61-101, pero Reklaim fue exenta de los requisitos de valoración formal y aprobación de accionistas minoritarios ya que el valor de la transacción está por debajo del 25% de la capitalización de mercado de la empresa.
Además, Reklaim ha recibido la aprobación de TSXV para emitir 16.380 acciones comunes a los usuarios de la plataforma canadiense que participaron en la prueba beta de una nueva característica del producto. Estas acciones estarán sujetas a un período de retención legal de cuatro meses y un día.
Reklaim (OTC Pink: MYIDF) (TSXV: MYID)는 두 가지 주요 개발 사항을 발표했습니다. 첫째, 회사는 CEO Neil Sweeney의 선순위 담보 채권의 만기일을 2025년 2월 24일에서 2027년 2월 12일로 연장했습니다. 수정된 채권의 가치는 205,000달러로, 회사가 이전에 상환한 금액을 반영합니다. 2022년 채권의 다른 모든 보유자는 상환되었습니다.
이 연장은 TSXV 정책 5.9 및 MI 61-101에 따른 관련 당사자 거래로 간주되지만, 거래 가치가 회사의 시장 자본금의 25% 미만이기 때문에 Reklaim은 공식 평가 및 소수 주주 승인 요건에서 면제되었습니다.
또한, Reklaim은 캐나다 플랫폼 사용자에게 새로운 제품 기능의 베타 테스트에 참여한 대가로 16,380주의 보통주를 발행하기 위한 TSXV 승인을 받았습니다. 이 주식은 4개월 1일의 법적 보유 기간이 적용됩니다.
Reklaim (OTC Pink: MYIDF) (TSXV: MYID) a annoncé deux développements clés. Tout d'abord, la société a prolongé la date d'échéance de l'obligation sécurisée senior du PDG Neil Sweeney du 24 février 2025 au 12 février 2027. L'obligation modifiée est évaluée à 205 000 dollars, reflétant les remboursements précédents effectués par la société. Tous les autres détenteurs d'obligations de 2022 ont été remboursés.
Cette prolongation est considérée comme une transaction avec des parties liées en vertu de la Politique 5.9 de la TSXV et de la MI 61-101, mais Reklaim a été exemptée des exigences d'évaluation formelle et d'approbation des actionnaires minoritaires, car la valeur de la transaction est inférieure à 25 % de la capitalisation boursière de l'entreprise.
De plus, Reklaim a reçu l'approbation de la TSXV pour émettre 16 380 actions ordinaires aux utilisateurs de la plateforme canadienne qui ont participé aux tests bêta d'une nouvelle fonctionnalité du produit. Ces actions seront soumises à une période de blocage légale de quatre mois et un jour.
Reklaim (OTC Pink: MYIDF) (TSXV: MYID) hat zwei wichtige Entwicklungen bekannt gegeben. Erstens hat das Unternehmen das Fälligkeitsdatum der vorrangigen gesicherten Anleihe von CEO Neil Sweeney vom 24. Februar 2025 auf den 12. Februar 2027 verlängert. Die geänderte Anleihe hat einen Wert von 205.000 Dollar und spiegelt frühere Rückzahlungen des Unternehmens wider. Alle anderen Inhaber von Anleihen aus dem Jahr 2022 wurden zurückgezahlt.
Diese Verlängerung gilt als Transaktion mit nahestehenden Personen gemäß der TSXV-Richtlinie 5.9 und MI 61-101, jedoch war Reklaim von den Anforderungen an eine formelle Bewertung und die Genehmigung der Minderheitsaktionäre befreit, da der Transaktionswert unter 25 % der Marktkapitalisierung des Unternehmens liegt.
Zusätzlich hat Reklaim die Genehmigung der TSXV erhalten, 16.380 Stammaktien an kanadische Plattformnutzer auszugeben, die an der Beta-Testphase für eine neue Produktfunktion teilgenommen haben. Diese Aktien unterliegen einer gesetzlichen Haltedauer von vier Monaten und einem Tag.
- CEO Neil Sweeney agreed to extend debenture maturity by 2 years to February 12, 2027
- Company has repaid all other 2022 debenture holders
- Received TSXV approval to issue shares to platform users who beta tested new product feature
- Company still has $205,000 in outstanding debt to CEO
New York, New York--(Newsfile Corp. - February 25, 2025) - Reklaim Ltd. (OTC Pink: MYIDF) (TSXV: MYID) ("Reklaim" or the "Company"), the platform that empowers consumers to access, control, and monetize their personal data, is pleased to announce that the Company and Neil Sweeney, the CEO of the Company and a director, have agreed to extend the maturity date of the senior secured debenture held by Mr. Sweeney, originally issued on February 24, 2022 (see the Company's news release dated February 24, 2022, for further details) (the "2022 Debenture") from February 24, 2025, to February 12, 2027 (the "Extension"), which is evidenced by an amended and restated debenture issued to Mr. Sweeney (the "Amended and Restated Debenture").
The Amended and Restated Debenture is in the principal amount of
The Extension is considered a related party transaction within the meaning of Policy 5.9 of the TSX Venture Exchange ("TSXV") and Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101") as a result of Mr. Sweeney being the CEO and a director of the Company. The Company relied on the exemptions under Sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of the formal valuation and minority shareholder approval requirements in respect of the Extension under MI 61-101, as neither the fair market value of the Amended and Restated Debenture nor the fair market value of the original consideration received from Mr. Sweeney, exceeds
Additional Information:
Further to the Company's news release dated February 13, 2025, the Company has received TSXV approval and will now issue 16,380 common shares (the "Settlement Shares") to certain platform users in Canada who participated in Reklaim's beta testing for a new product feature. The Settlement Shares will be subject to a statutory hold period of four months and one day.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
This press release is not an offer of the securities for sale in the United States. The securities may not be offered or sold in the United States absent registration or an available exemption from the registration requirements of the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act") and applicable U.S. state securities laws. The Company will not make any public transaction of the securities in the United States. The securities have not been and will not be registered under the U.S. Securities Act.
About Reklaim Ltd.
Reklaim provides compliant, consumer-permissioned data to Fortune 500 brands, platforms, and data companies, empowering individuals to take control of their personal information. By visiting Reklaim, users can confirm their identity and uncover data collected and sold without their explicit consent. Through a Reklaim account, consumers can choose to monetize their data or safeguard it using Reklaim's suite of privacy tools. For more information, visit Reklaim's investor page.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements:
This news release contains forward-looking statements and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will," "may," "should," "anticipate," "expects," and similar expressions.
This news release contains forward-looking statements and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will," "may," "should," "anticipate," "expects," and similar expressions. All statements other than statements of historical fact included in this release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations is the risk that the Company may not be able to repay the Amended and Restated Debenture and may be required to renegotiate the terms of the Amended and Restated Debenture, and risks detailed from time to time in the filings made by the Company with securities regulators.
The reader is cautioned that assumptions used in preparing any forward-looking information may prove incorrect. Events or circumstances may cause actual results to differ materially from those predicted due to numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. As a result, the Company cannot guarantee that any forward-looking statement will materialize, and the reader is cautioned not to place undue reliance on any forward-looking information. Although considered reasonable by management during preparation, such information may prove incorrect, and actual results may differ materially from those anticipated. This cautionary statement expressly qualifies forward-looking statements in this news release. The forward-looking statements in this news release are made as of the date of this news release. The Company will only update or revise any of the included forward-looking statements as expressly required by Canadian securities law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/242275
FAQ
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