Business
Reklaim Ltd. Reduces Debt Following Successful Warrant Exercises
Reklaim Ltd. Reduces Debt Following Successful Warrant Exercises Canada NewsWire ...
About this update from Reklaim Ltd
[{"type":"text","content":"\n \n \n \n Reklaim Ltd. Reduces Debt Following Successful Warrant Exercises\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n No Impact on Share Structure as Company Strengthens Financial Position\n \n \n \n \n \n NEW YORK\n \n \n ,\n \n \n April 24, 2024\n \n \n /CNW/ -\n \n \n \n Reklaim Ltd\n \n \n .\n \n (TSXV: MYID) (OTC: MYIDF) (the \"\n \n Company\n \n \"), the destination where consumers can view, edit, add, and option their data for direct compensation, is pleased to announce that it has reduced its overall debt by 9.8%. This reduction was achieved through a cash payment to a non-arms-length creditor, totaling\n \n $100,000\n \n . The cash used for this payment came from the exercise of warrants by existing investors, reflecting their continued confidence in the company's vision.\n \n \n \n \n \n \n \n \n \n Importantly, this debt reduction does not affect the company's share structure. No new shares have been issued, and the fully diluted capital table remains the same at 114,896,595 shares outstanding.\n \n \n This successful debt reduction follows a year of strong financial performance for Reklaim Ltd., highlighted by the company's first full year of profitability and record revenue of\n \n $1,416,230\n \n in Q4-2023, a 97%% increase compared to Q4-2022.\n \n \n Reklaim Ltd.'s latest milestone reinforces its commitment to empowering consumers by giving them control over their personal data while sustaining a strong financial trajectory. The company is dedicated to creating new avenues for consumers to earn compensation through effective data management and monetization.\n \n \n \n Additional Information\n \n \n \n The Company's Board of Directors has approved the issuance of 1,634,000 stock options and restricted share units (\"RSUs\") as part of its Omnibus Equity Incentive Plan. This allocation includes 1,106,000 stock options granted to the company's officers and employees, with an exercise price of\n \n $0.14\n \n per share and a five-year term. Additionally, 528,000 RSUs were gr...