The company is now focused and
fully-capitalized on expanding Killi into the global leader in
consumer privacy.
TORONTO, May 29, 2020 /CNW/ - Killi
Ltd. (the "Company") (TSXV: MyID) announces the
finalization of several corporate initiatives including the closing
of the Freckle transaction with PlaceIQ, the Company's name change
to Killi Ltd, and the filing of the Financial Statements,
Management Discussion and Analysis for the period ending
March 31, 2020.
The combination of the closing of the Freckle transaction, as
well as the changes to the company's name and ticker symbol, allows
us to turn the page on the Freckle era and remove any confusion
about what the focus of the business is moving forward" commented
Killi's Founder and CEO Neil
Sweeney. "With the non-dilutive capital from the sale of the
Freckle unit, as well as the completed financing that we
announced earlier this week, the Company is now well-capitalized to
continue to build on its goal of being the global leader in
consumer privacy."
Name Change to Killi Ltd.
The Company's previously announced name change to "Killi Ltd."
is effective today and trades under the symbol MyID.TSXV.
MyID was chosen as the ticker symbol as it is the goal of Killi to
provide an ecosystem to allow consumers to put all of their
consumer data and identity under their control. The new
CUSIP/ISIN numbers for the Class A common shares of the Company
(the "Common Shares") are as follows:
49423R106/CA49423R1064. Existing shareholders are not
required to take any action concerning the name change. Issued
share certificates representing the Common Shares will not be
affected by the name change.
Closing of Sale of Offline Attribution Data Business
The Company has also completed the previously announced sale
(the "Transaction") of the Freckle offline attribution and
data business (the "Purchased Assets") to PlaceIQ, Inc.
("PlaceIQ"). For further details on the Transaction, see the
Company's press release dated April 6,
2020, and the Company's management information circular
dated April 23, 2020, which is
available on the Company's profile on SEDAR at www.sedar.com.
In connection with the Transaction Anthony Tsigourakos, the
Chief Revenue Officer of Freckle has accepted employment with
PlaceIQ.
Filing of Financial Results and Upcoming Shareholder
Call
The Company has filed the interim unaudited condensed
Consolidated Financial Statements and Management's Discussion and
Analysis ("MD&A") for the three months ended March 31, 2020, on SEDAR at
www.sedar.com.
In place of hosting a conference call to discuss these results,
the Company will instead host an investor call in early June to
discuss the Company outlook for operations and the Company's
financial position and to hold a question and answer session with
shareholders.
Option Repricing
Further to the voting results at the Company's Annual General
Meeting, the Company also announces that it has repriced the
exercise price of 3,509,772 stock options ("Repriced
Options") previously issued to directors, officers and
employees of the Company to $0.05.
All other terms of the Repriced Options remain unchanged.
About Killi Ltd.
Killi (killi.io) is a consumer identity product, available in
five countries, that allows individuals to take back control of
their digital identity from those who have been using it without
their consent. With Killi™, consumers can opt-in and select
specific pieces of personal information that they would like to
share with companies and be compensated directly in cash for its
use.
Download Killi™ here.
For more information, please visit killi.io.
Neither the TSX Venture Exchange nor it's Regulation Services
Provider (as is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this news release.
Forward-Looking and Other Cautionary Statements
This news release may contain "forward-looking statements"
within the meaning of applicable securities laws, including, but
not limited to, the Company's financing plans. Forward-looking
statements may generally be identified by the use of the words
"anticipates," "expects," "intends," "plans," "should," "could,"
"would," "may," "will," "believes," "estimates," "potential,"
"target," or "continue" and variations or similar expressions.
These statements are based upon the current expectations and
beliefs of management. They are subject to certain risks and
uncertainties that could cause actual results to differ materially
from those described in the forward-looking statements. These risks
and uncertainties include, but are not limited to: the uncertainty
surrounding the spread of COVID-19 and the impact it will have on
the Company's operations and economic activity in general; and the
risks and uncertainties discussed in our most recent annual and
quarterly reports filed with the Canadian securities regulators and
available on the Company's profile on SEDAR at www.sedar.com, which
risks and uncertainties are incorporated herein by reference.
Readers are cautioned not to place undue reliance on
forward-looking statements. Except as required by law, the Company
does not intend and undertakes no obligation to update any
forward-looking statements to reflect, in particular, new
information or future events.
SOURCE Killi Ltd