Perk Labs Announces the End of its At-the-Market Equity Program and Divestiture of Shares

Rhea-AI Summary

Perk Labs Inc. has concluded its at-the-market equity program, which successfully raised $3,241,596 since inception on July 29, 2020. In addition, the company divested 2,539,000 shares of Hero Innovation Group Inc. for $203,120, enhancing its cash position. Perk Labs is dedicated to aiding businesses in transitioning to the digital economy through its platform, Perk Hero, providing essential digital tools for restaurateurs.

Positive

• Raised $3,241,596 through the ATM Program.
• Divested 2,539,000 shares of Hero Innovation Group for $203,120.

Negative

• None.

VANCOUVER, BC / ACESSWIRE / July 14, 2022 / Perk Labs Inc. (CSE:PERK)(OTCQB:PKLBF)(FKT:PKLB) ("Perk Labs" or the "Company") the owner of Perk Hero, the digital franchise company helping businesses transition to the digital economy, today announced that it has ended its at-the-market equity program (the "ATM Program") that allowed the Company to issue and sell common shares in the capital of the Company from treasury to the public.

In total, the Company raised gross proceeds of $3,241,596 through the ATM Program since announcing the program on July 29, 2020.

The Company also announced today that it recently divested of 2,539,000 shares of Hero Innovation Group Inc. (formerly Euro Asia Pay Holdings Inc.) for gross proceeds of $203,120 to add to its cash position. The Company holds a remaining balance of 5,100,000 shares in Hero Innovation Group Inc.

About Perk Labs Inc.

Perk Labs Inc. is the owner of Perk Hero, the digital franchise company helping businesses transition to the digital economy. Perk Hero provides restaurateurs with friendly and reliable digital ordering, payment and loyalty tools to help them survive and thrive in a difficult economic environment. Perk Hero is growing through a unique community-driven digital franchise business that is available to entrepreneurs at an attractive start-up price.

For more information about Perk Labs, please visit www.perklabs.io. Visit Perk Hero at www.perkhero.com.

For more information on a Perk Franchise, visit www.perkfranchise.com.

For more information, contact:
Jonathan Hoyles CEO
(833) 338-0299
investors@perklabs.io

Forward-Looking Statements

Certain statements made in this press release may constitute "forward-looking information", "future oriented financial information" or "financial outlooks" (collectively, "forward-looking information") within the meaning of applicable securities laws. Forward-looking information may relate to anticipated events or results including, but not limited to the intended use of net proceeds from the ATM Program; and other statements that are not historical facts. Particularly, information regarding our expectations of future results, targets, performance achievements, prospects or opportunities is forward-looking information. Often, but not always, forward-looking statements can be identified by the use of forward-looking terminology such as "may", "will", "expect", "believe", "estimate", "plan", "could", "should", "would", "outlook", "forecast", "anticipate", "foresee", "continue" or the negative of these terms or variations of them or similar terminology. Forward-looking information is current as of the date it is made and is based on reasonable estimates and assumptions made by us at the relevant time in light of our experience and perception of historical trends, current conditions and expected future developments, as well as other factors that we believe are appropriate and reasonable in the circumstances. However, we do not undertake to update any such forward-looking information whether as a result of new information, future events or otherwise, except as required under applicable securities laws in Canada. There can be no assurance that such estimates and assumptions will prove to be correct.

SOURCE: Perk Labs Inc.

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https://www.accesswire.com/708532/Perk-Labs-Announces-the-End-of-its-At-the-Market-Equity-Program-and-Divestiture-of-Shares

FAQ

What did Perk Labs announce on July 14, 2022?

Perk Labs announced the end of its at-the-market equity program and the divestiture of shares.

How much money did Perk Labs raise through the ATM Program?

Perk Labs raised a total of $3,241,596 through the ATM Program.

What shares did Perk Labs divest recently?

Perk Labs divested 2,539,000 shares of Hero Innovation Group Inc.

How much did Perk Labs receive from the divestiture of shares?

Perk Labs received gross proceeds of $203,120 from the divestiture.

What is the primary service offered by Perk Labs?

Perk Labs offers Perk Hero, a platform that provides digital ordering, payment, and loyalty tools for restaurateurs.