Perk Labs Inc. Announces Extension of Private Placements

Rhea-AI Summary

Perk Labs Inc. extends non-brokered private placements of Units and Convertible Debentures due to the Easter weekend, raising approximately $900,000 to date. Units priced at $0.01 per Unit with warrants to purchase additional shares at $0.05 per share. Convertible debentures offered at 15% interest rate, convertible at $0.05 per share. Private placements expected to close by April 8th, 2024.

VANCOUVER, BC / ACCESSWIRE / March 28, 2024 / Perk Labs Inc. (CSE:PERK)(OTC PINK:PKLBF)(FKT:PKLB) ("Perk" or the "Company"), today announced that due to the Easter weekend, it is further extending its previously announced non-brokered private placements of Units and Convertible Debentures, of which approximately $900,000 has been raised to date.

Units are offered at a price of $0.01 per Unit. Each Unit consists of one common share of the Company and one common share purchase warrant. Each warrant entitles the holder to purchase one additional common share at a price of $0.05 per common share for a period of 24 months from the Closing.

The convertible debentures are offered for a 2-year term at an interest rate of 15% and will be convertible into common shares of Perk Labs at a conversion price of $0.05 per share, subject to the terms and conditions set forth in the convertible debenture agreement.

The private placements of the Units and the convertible debentures are expected to close on or before April 8^th, 2024. A finder's fee may be payable in connection with the private placements.

In connection with the private placements, the Company may enter into debt settlement agreements with arms-length creditors for the settlement of a total of up to ~$250,000 debt in professional services provided by the creditors to the Company.

Further details of the private placements are provided in the press release of the Company dated October 30, 2023.

About Perk Labs Inc.
Perk Labs Inc., (CSE:PERK)(OTC PINK:PKLBF)(FKT:PKLB), the owner of Getit Technologies Inc. and Perk Hero Software Inc. ("Perk Labs"), provides innovative mobile ordering and payment systems, allowing customers the ability to scan a QR code or NFC sticker to order and pay for their purchases directly from their phone. Perk Labs specializes in providing a single unified payment interface for complex purchase environments - environments that have multiple retailers processing an array of different transactions, including food and beverage purchases, merchandise sales, ticketing, registrations, donations, parking fees, and service payments. Perk Labs provides a custom-branded solution that is ideal for multi-transaction brands such as stadiums and arenas, university and college campuses, conference centers, hotels and resorts, festivals and events, and professional service companies.

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

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements
This press release contains forward-looking information or forward-looking statements (collectively "forward-looking information") within the meaning of applicable securities laws. Forward-looking information is typically identified by words such as: "may", "believe", "thinks", "expect", "exploring", "expand", "could", "anticipate", "intend", "estimate", "plan", "pursue", "potentially", "projected", "should", "will" and similar expressions, or are those, which, by their nature, refer to future events. These forward-looking statements, which involve risks and uncertainties, relate to, among other things, the discussion of the Company's business strategies and its expectations concerning future operations, and expectations of future revenues for the Company. Although the Company considers these forward-looking statements to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. The Company cautions investors that any forward-looking information provided by the Company is not a guarantee of future results or performance, and that actual results may differ materially from those in forward-looking statements. Undue reliance should not be placed on such forward-looking information, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur.

SOURCE: Perk Labs Inc.

View the original press release on accesswire.com

FAQ

What is the ticker symbol for Perk Labs Inc. mentioned in the press release?

The ticker symbol for Perk Labs Inc. mentioned in the press release is PKLBF.

What is the price per Unit offered in the private placements?

The price per Unit offered in the private placements is $0.01.

What is the conversion price for the convertible debentures?

The conversion price for the convertible debentures is $0.05 per share.

When are the private placements expected to close?

The private placements are expected to close on or before April 8th, 2024.

What is the interest rate for the convertible debentures?

The convertible debentures are offered at an interest rate of 15%.