Business
Pool Safe Announces Closing of Financing and Conversion of All Convertible Debentures and Promissory Note
Toronto, Ontario--(Newsfile Corp. - May 6, 2021) -  Pool Safe Inc. ( TSXV: POOL ) (" Pool...
About this update from Pool Safe, Inc.
[{"type":"text","content":"Pool Safe Announces Closing of Financing and Conversion of All Convertible Debentures and Promissory NoteToronto, Ontario--(Newsfile Corp. - May 6, 2021) -  Pool Safe Inc. (TSXV: POOL) (\"Pool Safe\" or the \"Company\") announces that the proposed shares for debt transaction (\"Debt Conversion\") involving holders of all outstanding convertible debentures and a promissory note holder and the debenture financing as described in the Company's press release disseminated on April 26, 2021 have been approved by the TSX Venture Exchange and the transactions contemplated thereby have now closed. Early Warning ReportPrior to the Debt Conversion, Berger Group Inc., a corporation with a head office in Toronto, Ontario, held 21,838,216 common shares in the capital of the Company (\"Common Shares\"). Pursuant to the Debt Conversion, Berger Group Inc. acquired, for $79,961.16 of debt settled, ownership of 1,999,029 Common Shares, which, together with the Common Shares held prior to the Debt Conversion, represents approximately 26.71% of the issued and outstanding Common Shares on a non-diluted basis. The Common Shares acquired pursuant to the Debt Conversion were acquired by Berger Group Inc. for investment purposes, and depending on market and other conditions, it may from time to time in the future increase or decrease its ownership, control or direction over securities of the Company through market transactions, private agreements, or otherwise.A copy of the early warning report that will be filed by Berger Group Inc. may be obtained on the Company's SEDAR profile or by contacting Steven Glaser, the Company's CFO and COO, at 416-630-2444.About Pool Safe Inc.Pool Safe Inc. designs, develops and distributes a product known as the \"PoolSafe\", which functions as a multi-purpose personal poolside attendant. The PoolSafe is designed to provide safety, convenience and peace of mind for hotels, resorts, waterparks and cruise ship guests. Functions include: lockable safe, solar-powered charger for USB compatible electronic devices including phones, cameras and tablets in addition to a server call-button, a beverage cooler and holders. Conveniently located alongside pool or beach lounge chairs, the PoolSafe is a unique way of providing vacationers with a comforting sense of security for their belongings, while they enjoy their vacation. For ...