Reklaim Completes Convertible Debenture Financing to Accelerate Growth of Reklaim Protect

Core Points - Reklaim Ltd. has completed a non-brokered private placement of convertible debenture units totaling $500,000 to accredited investors to support the growth of its privacy protection platform, Reklaim Protect [1][2] Group 1: Financing Details - The proceeds from the offering will primarily be used for the expansion of Reklaim Protect, which allows consumers to monitor, remove, and safeguard their personal data online [2] - Each Debenture Unit consists of one senior secured convertible debenture and warrants equal to 50% of the common shares issuable upon conversion of the principal of the debenture [3] - The debentures accrue interest at a rate of 12.0% per annum, maturing 36 months from the closing date, and are convertible into shares at C$0.105 per share [7] Group 2: Terms and Conditions - The company retains the right to repay the debentures early, with specific conditions regarding the expiration of warrants upon early repayment [4] - A total of 2,380,952 warrants were issued under the offering, with an exercise price of C$0.14 for 36 months from issuance [3][4] - The offering is subject to final approval by the TSX Venture Exchange, and all securities issued are subject to a four-month hold period [5] Group 3: Company Overview - Reklaim provides compliant, consumer-permissioned data to Fortune 500 brands, enabling individuals to control their personal information [6] - The platform allows users to verify their identity and discover data collected and sold without their consent, offering tools to monetize or safeguard their data [6]