Sabio Holdings Inc. Announces Closing of First Tranche of Secured Convertible Debenture Financing
Pursuant to the First Tranche, the Company issued an aggregate principal amount of
The Debentures are secured by a general security interest over all present and after‑acquired personal property of the Company and rank second priority to the Company's existing and future secured obligations to
The Company may, at its sole discretion, complete one or more additional tranches on substantially similar terms. The Offering, including the First Tranche and any additional tranches, is subject to final approval of the
In connection with the First Tranche, the Company paid finder's fees of 2% in cash, being an aggregate of
The net proceeds from the First Tranche will be used for working capital and general corporate purposes.
All securities issued in connection with the financing are subject to a statutory hold period of four months plus one day from the date of issuance, in accordance with applicable securities laws.
About Sabio
Sabio Holdings (TSXV: SBIO, OTCQB: SABOF) is a technology and services leader in the fast-growing ad-supported streaming space. Its cloud-based, end-to-end technology stack works with top blue-chip, global brands and the agencies that represent them to reach, engage, and validate (R.E.V.) streaming audiences.
Sabio consists of a proprietary ad-serving technology platform that partners with the top ad-supported streaming platforms and apps in the world, App Science™, a non-cookie-based software as a service (SAAS) analytics and insights platform with AI natural language capabilities, and Creator Television®(Creator TV), the first creator-led streaming network and content studio dedicated to bringing the authenticity and energy of social media storytelling to TV. For more information, visit: sabioctv.com
Forward ‑ Looking Information
This news release contains forward
‑
looking information within the meaning of applicable securities laws, including statements relating to the completion of additional tranches of the Offering, the receipt of final approval of the
Forward ‑ looking information is based on management's reasonable assumptions, including that market conditions remain supportive, investor interest continues, all required approvals (including TSXV approval) will be obtained on a timely basis, and no material adverse change occurs in the Company's business or financial condition.
Forward ‑ looking information is subject to risks and uncertainties that may cause actual results to differ materially, including the risk that additional tranches may not be completed, that TSXV approval may be delayed or not obtained, changes in market or financing conditions, and other risks disclosed in the Company's public filings available on SEDAR+ at www.sedarplus.ca.
Although the Company believes the assumptions underlying the forward ‑ looking information are reasonable, there can be no assurance that such information will prove to be accurate. Readers are cautioned not to place undue reliance on forward ‑ looking information. The Company does not undertake to update any forward ‑ looking information except as required by applicable securities laws.
Neither the
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