Ynvisible Interactive Announces Acceleration of Warrant Expiry Date
19 March 2021 - 3:40AM
Business Wire
Ynvisible Interactive Inc. (the "Company" or
"Ynvisible") (TSXV:YNV, OTCQB:YNVYF, FRA:1XNA), an emerging
printed and flexible electronics company, announces that it has
elected to exercise its right to accelerate the expiry date of its
common share purchase warrants issued January 9, 2019, and June 5,
2019, and each exercisable into a common share in the capital of
the Company at an exercise price of $0.60 (the
“Warrants”).
The Warrants bear an acceleration provision providing that, if
for the preceding seven consecutive trading days, the daily volume
weighted average trading price of the Company’s common shares is
greater than $0.75, the Company is entitled to accelerate the
expiry date of the Warrants to the date that is the 30th day after
the date of this news release, which serves as the required notice
to the holders of the Warrants.
The Warrants will now expire at 5:00 p.m. (Vancouver time) on
April 17, 2021 (the “Accelerated Expiry Time). Warrants that have
not been exercised by the Accelerated Expiry Time will
automatically be void and cease to have any effect.
Over 90% of the Warrants have already been exercised generating
approximately $4.9 million in gross proceeds to the Company. As of
today’s date, a total of 881,295 Warrants remain outstanding. If
all remaining Warrants are exercised, additional proceeds to the
Company will total approximately $539,000.
The Company intends to use the proceeds of the Warrants
exercised for productization, marketing, increasing production
capacity, and general working capital.
For information on the Warrant exercise procedure, existing
Warrant holders interested in exercising Warrants may contact the
Company via email to IR@ynvisible.com and
rmiller@keystonecorp.ca.
ABOUT YNVISIBLE INTERACTIVE INC.
Ynvisible aims to be a leading company in the emerging printed
and flexible electronics sector. Given the cost and
power-consumption advantages over conventional electronics, printed
electronics are a key enabler of mass adoption of the Internet of
Things ("IoT") and smart objects. Ynvisible has the experience,
know-how and intellectual property in electrochromic materials,
inks, and systems. Ynvisible's interactive printed graphics
solutions solve the need for ultra-low power, mass deployable,
& easy-to-use electronic displays and indicators for everyday
smart objects, IoT devices, and ambient intelligence (intelligent
surfaces). Ynvisible offers a mix of services, materials and
technology to brand owners developing smart objects and IoT
products. Additional information on Ynvisible is available at
www.ynvisible.com.
ON BEHALF OF THE BOARD OF DIRECTORS
"Michael Robinson," CEO, Ynvisible Interactive Inc.
Neither 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.
Forward-looking statements address future events and conditions and
therefore involve inherent risks and uncertainties. All statements,
other than statements of historical fact, that address activities,
events or developments the Company believes, expects or anticipates
will or may occur in the future, including, without limitation,
statements about the Company's forecast of sales, cost of sales,
operating expenses and income from other sources; the Company's
business strategy, plans and outlooks; the future financial or
operating performance of the Company; and future marketing and
operating plans are forward-looking statements. Forward-looking
statements are subject to a number of risks and uncertainties that
may cause the actual results of the Company to differ materially
from those discussed in the forward-looking statements and, even if
such actual results are realized or substantially realized, there
can be no assurance that they will have the expected consequences
to, or effects on, the Company. Factors that could cause actual
results or events to differ materially from current expectations
include, among other things: the impact of COVID-19; risks and
uncertainties related to additional costs being subsequently
identified and the allocation of costs between reporting periods;
and the possibility that the actual financial results will not be
consistent with the Company's expectations. Actual results may
differ materially from those currently anticipated in such
statements. Readers are encouraged to refer to the Company's public
disclosure documents for a more detailed discussion of factors that
may impact expected future results. The Company undertakes no
obligation to publicly update or revise any forward-looking
statements, unless required pursuant to applicable laws.
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version on businesswire.com: https://www.businesswire.com/news/home/20210318005780/en/
Investor Relations Elyssia Patterson +1 778-683-4324
ir@ynvisible.com
Ynvisible Interactive (TSXV:YNV)
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