KABN NA Receives Subscription
Agreements for C$2,970,000 Investment at $0.33 CDN per Unit
TORONTO, ON, Canada -- August 18, 2020 -- InvestorsHub
NewsWire -- KABN Systems NA Holdings Corp. (CSE:KABN) (the
"Company" or
"KABN" or "KABN
North America"), a Canadian Fintech company that
specializes in continuous online identity verification, management
and monetization in Canada and the U.S., is pleased to announce
that it has received and accepted irrevocable subscriptions from a
group of arm's-length U.S. family office and foreign investors, for
a total of 9 million common share units ("Units") for gross
proceeds of C$2,970,000.
Each Unit is priced at C$0.33 per Unit. Each Unit consists of
one common share of the Company ("Common Shares") and ½ Common
Share purchase warrant ("Warrants"), with each whole Warrant
entitling the holder to purchase one Common Share for C$0.37 per
share for 24 months from closing of the transaction. No fees were
paid in association with the financing. In accordance with
applicable securities rules and regulations, the Common Shares and
the Warrants comprised in the Units, and the Common Shares issuable
on exercise of the Warrants, will be subject to hold periods
ranging from 4 months to 1 year, with the majority of the offering
subject to a 1 year hold, restricting shares and warrants from
transfer or trading except as permitted by law.
"This agreement largely stems from the increasing recognition of
Liquid Avatar as a potential game changer in the world of digital
identity verification, management and monetization. We look forward
to closing this financing over the next couple of weeks and
continue to execute and deliver on our business programs," said Ben
Kessler, CEO - KABN North America
The expected date of closing is on or before August 31, 2020,
and may be extended by the Company. The proceeds of the financing
will provide working capital to further accelerate the Company's
development, customer acquisition and business platform consisting
of Liquid Avatar, KABN ID, KABN KASH and KABN's Visa Card
program.
The KABN North American Fintech suite of products and
services is comprised of:
Liquid Avatar allows users to create high
quality digital icons representing their online personas. These
icons, in conjunction with KABN ID, allows users to manage and
control their Digital Identity and to use Liquid Avatars to share
public and permission based private data when they want and with
whom they want. www.liquidavatar.com
KABN ID is an Always On,
biometric and blockchain based digital identity validation and
verification platform allowing users to continuously and
confidently prove themselves throughout the online community.
KABN Card is a Visa approved prepaid card
program allowing users to manage both digital and fiat currencies
and earn cashback and other loyalty incentives. www.kabncard.com
KABN KASH is a cashback, loyalty and
engagement program that powers the KABN revenue ecosystem.
KABN provides its products and services at no cost to consumers
and generates revenues through permission-based partner
programs. www.kabnkash.com
The Company welcomes the public to request an invitation to be
an early adopter of Liquid Avatar and earn rewards
at: https://liquidavatar.com/liquid-avatar-early-adopter/
About KABN North America - www.kabnnaholdco.com
KABN Systems NA Holdings Corp. through its wholly owned
subsidiary KABN Systems North America Inc. focuses on the
verification, management and monetization of digital identity,
empowering users to control and benefit from its use of their
online identity. KABN propriety technology suite includes 4 key
products:
Liquid Avatar allows users to create high
quality digital icons representing their online personas. These
icons, in conjunction with KABN ID, allows users to manage and
control their Digital Identity and to use Liquid Avatars to share
public and permission based private data when they want and with
whom they want. www.liquidavatar.com
KABN ID is an Always On,
biometric and blockchain based digital identity validation and
verification platform allowing users to continuously and
confidently prove themselves throughout the online community.
KABN Card is a Visa approved prepaid card
program allowing users to manage both digital and fiat currencies
and earn cashback and other loyalty incentives. www.kabncard.com
KABN KASH is a cashback, loyalty and
engagement program that powers the KABN revenue ecosystem.
KABN provides its products and services at no cost to consumers
and generates revenues through permission-based partner
programs. www.kabnkash.com
For more information, please visit www.kabnnaholdco.com or www.kabnsystemsna.com
For further information, please contact:
Ben Kessler
Chief Executive Officer
647-725-7742 Ext. 700
ir@kabnsystemsna.com
The CSE has not reviewed and does not accept responsibility
for the adequacy or accuracy of this release.
This news release does not constitute an offer to sell, or a
solicitation of an offer to buy, any securities under the KABN
Financing in the United States. The securities have not been and
will not be registered under the United States Securities Act of
1933, as amended (the "U.S. Securities Act") or any state
securities laws and may not be offered or sold within the United
States or to U.S. Persons unless registered under the U.S.
Securities Act and applicable state securities laws or an exemption
from such registration is available.
Forward-Looking Information and Statements
This press release contains certain "forward-looking
information" within the meaning of applicable Canadian securities
legislation and may also contain statements that may constitute
"forward-looking statements" within the meaning of the safe harbor
provisions of the United States Private Securities Litigation
Reform Act of 1995. Such forward-looking information and
forward-looking statements are not representative of historical
facts or information or current condition, but instead represent
only the Company's beliefs regarding future events, plans or
objectives, many of which, by their nature, are inherently
uncertain and outside of the Company's control. Generally, such
forward-looking information or forward-looking statements can be
identified by the use of forward-looking terminology such as
"plans", "expects" or "does not expect", "is expected", "budget",
"scheduled", "estimates", "forecasts", "intends", "anticipates" or
"does not anticipate", or "believes", or variations of such words
and phrases or may contain statements that certain actions, events
or results "may", "could", "would", "might" or "will be taken",
"will continue", "will occur" or "will be achieved". The
forward-looking information and forward-looking statements
contained herein may include, but is not limited to, information
concerning the ability of the Company to generate revenues, roll
out new programs and to successfully achieve business objectives,
including to accelerate the Company's development, customer
acquisition and business platform, and expectations for other
economic, business, and/or competitive factors.
By identifying such information and statements in this manner,
the Company is alerting the reader that such information and
statements are subject to known and unknown risks, uncertainties
and other factors that may cause the actual results, level of
activity, performance or achievements of the Company to be
materially different from those expressed or implied by such
information and statements. In addition, in connection with the
forward-looking information and forward-looking statements
contained in this press release, the Company has made certain
assumptions. Among the key factors that could cause actual results
to differ materially from those projected in the forward-looking
information and statements are the following: changes in general
economic, business and political conditions, including changes in
the financial markets; changes in applicable laws; compliance with
extensive government regulation. Should one or more of these risks,
uncertainties or other factors materialize, or should assumptions
underlying the forward-looking information or statements prove
incorrect, actual results may vary materially from those described
herein as intended, planned, anticipated, believed, estimated or
expected.
Although the Company believes that the assumptions and factors
used in preparing, and the expectations contained in, the
forward-looking information and statements are reasonable, undue
reliance should not be placed on such information and statements,
and no assurance or guarantee can be given that such
forward-looking information and statements will prove to be
accurate, as actual results and future events could differ
materially from those anticipated in such information and
statements. The forward-looking information and forward-looking
statements contained in this press release are made as of the date
of this press release, and the Company does not undertake to update
any forward-looking information and/or forward-looking statements
that are contained or referenced herein, except in accordance with
applicable securities laws.
SOURCE: KABN Systems NA Holdings Corp.
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