TORONTO, March 27, 2019 /CNW/ - 01 Communique Laboratory Inc. (TSX-V:ONE) today announced that it has entered into an agreement to amend the terms of its previously issued $400,000 principal amount of debentures (the "Debentures") and 800,000 common share purchase warrants that were issued on April 24, 2015.
Each Debenture currently bears interest at a rate of 15% per annum, calculated and payable quarterly. The Debentures had an original term of 36 months expiring on April 24, 2018 (which was previously extended to April 24, 2019) and are redeemable at any time prior to maturity at the discretion of 01 Communique with payment of an additional three months interest. The Debentures are secured by a general security agreement. Each warrant is exercisable into one common share in the capital of 01 Communique at any time until April 24, 2018 at an exercise price of $0.10 per Common Share. Under the terms of the proposed amendments the maturity date of the Debentures and the expiry date of the warrants would be extended until April 24, 2020. In addition the warrants will continue to include an expiry date acceleration clause such that the exercise period of the warrants will be reduced to 30 days if, for any ten consecutive trading days during the unexpired term of the warrant (the "Premium Trading Days"), the closing price of the common shares of 01 Communique exceeds the exercise price of the warrants by 25% or more and the reduced exercise period of 30 days will begin no more than 7 calendar days after the tenth Premium Trading Day).
The amendments remain subject to the approval of the TSX Venture Exchange.
Neither TSX Venture Exchange ("TSX-V") 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.
About 01 Communique.
Established in 1992, 01 Communique Laboratory Inc. (TSX-V: ONE) has always been at the forefront of technology. The Company's legacy business provides its customers with a suite of secure remote access services and products. In early 2018 the Company began transitioning its business focusing on cybersecurity with the development and implementation of Post-Quantum Cryptography and Post-Quantum Blockchain technologies, which can be implemented on classical computer systems as we know them today while at the same time secure enough to safeguard against potential Quantum Computer attacks. The Company's legacy products are protected in the U.S.A. by its patents #6,928,479 / #6,938,076 / #8,234,701; in Canada by its patents #2,309,398 / #2,524,039 and in Japan by its patent #4,875,094. For more information visit the Company's web site at www.01com.com.
Cautionary Note Regarding Forward-looking Statements.
Certain statements in this news release may constitute "forward-looking" statements which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. When used in this news release, such statements use such words as "may", "will", "expect", "believe", "plan", "intend", "are confident" and other similar terminology. These statements reflect current expectations regarding future events and operating performance and speak only as of the date of this news release. Forward-looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not such results will be achieved. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements, including, but not limited to, the factors discussed under "Risk and Uncertainties" in the company's Management`s Discussion and Analysis document filed on SEDAR. Although the forward-looking statements contained in this news release are based upon what management of the Company believes are reasonable assumptions, the company cannot assure investors that actual results will be consistent with these forward looking statements. These forward-looking statements are made as of the date of this news release, and the company assumes no obligation to update or revise them to reflect new events or circumstances.
SOURCE 01 Communique Laboratory Inc.
For further information: INVESTOR CONTACT: Andrew Cheung, President and CEO, 01 Communique, (905) 795-2888 x 206, [email protected]