VANCOUVER, Sept. 6, 2018 /CNW/ - Good Life Networks Inc. ("GLN", or the "Company") (TSX-V: "GOOD"), a Vancouver-based programmatic advertising technology company, is pleased to announce one of Canada's leading Tech analyst and Partner at Oak Hill Financial, Ron Shuttleworth will join the company as Corporate Development Advisor assisting in M&A strategy and execution.
Mr. Shuttleworth has 25 years of experience in the technology sector as an operator, investor, analyst, and investment banker specializing in M&A, equity and debt. As an operator, Mr. Shuttleworth has been CEO, CTO and Product Manager with direct experience in fintech, enterprise software, and marketing automation. Ron was a top-ranked research analyst for eight years, specializing in technology, media, and communications with nearly a $500 million of capital raised within his coverage list.
"I'm thrilled our company continues to attract exceptional depth and experience to our team. Ron Shuttleworth spent most of his career as one of Canada's top tech analysts and his advice over the last 18 months has been invaluable. He was instrumental in creating our relationship with our lead financial organization and played a significant role in helping GLN go public. Ron will add his substantial experience in technology to our DNA. Ron's role will expand to include guiding our analyst coverage along with our acquisitions, growth strategy and ongoing corporate development." said Jesse Dylan, CEO of GLN.
GLN also announces the issuance of 117,600 and 154,736 common shares of the Company ("Common Shares") to Market One Media Group Inc. ("Market One") at a deemed price of $0.25 and $0.19 per Common Share, respectively, and 58,956 and 63,069 Common Shares to AGORA Internet Relations Corp. ("AGORA") at a deemed price of $0.23 and $0.215 per Common Share, respectively, in consideration for services rendered to date (the "Service Shares"). The Service Shares were issued pursuant to a media services contract dated May 5, 2018 between the Company and Market One and an advertising agreement dated April 2, 2018 between the Company and AGORA, as further described in the Company's press release dated May 10, 2018.
Shares for Debt Settlement
The Company also announces that it has entered into four shares for debt settlement agreements whereby the Company intends issue an aggregate of 907,259 Common Shares (the "Settlement Shares") to four arm's length creditors (each, a "Creditor").
In addition to the Settlement Shares, the Company is also proposing to issue 125,000 Common Share purchase warrants (each, a "Warrant") to one of the Creditors. Each Warrant is convertible into one Common Share at an exercise price of $0.29 per Common Share for a period of two years from the date of issuance.
The Settlement Shares and Warrants are being issued to settle debts of the Company in the aggregate amount of $205,000 (the "Debt"). While the Company currently has cash on hand to settle the Debt, it is proposing to issue the Settlement Shares and Warrants in order to preserve cash to fund future operations and potential acquisitions. By issuing the Settlement Shares and Warrants, the Debt will be definitively extinguished.
The shares for services and shares for debt settlements were carried out pursuant to prospectus exemptions of applicable securities laws. The issuance of the Settlement Shares and Warrants are subject to the approval of the TSX Venture Exchange. The Settlement Shares and securities underlying the Warrants are subject to a statutory four-month hold period in accordance with applicable securities laws.
The GLN Story
GLN harnesses the power of artificial intelligence to improve marketing return on investments for advertisers. GLN is a patent pending machine learning programmatic video advertising technology company that does not collect PII (Personal Identifiable Information). GLN serves millions of online video ads daily 3 times faster than IAB (Interactive Advertising Bureau) standards through multiple server to server integrations with both publishers and advertisers including CTV (Connected Television). GLN's technology powers the company's ability to create sustainable growth and revenue from this substantial digital advertising ecosystem: 74% of U.S. homes have at least one connected television and there will be over 750 million connected TV sets globally by the end of the year according to Statista. The IAB (Interactive Advertising Bureau) Changing TV Experience report indicates that 56% of consumer TVs are now IP connected. The IAB anticipates CTV ad revenues are projected to hit $31.5 billion in 2018, up 275 percent from $8.4 billion in 2015. GLN is headquartered in Vancouver, Canada and with offices in the US and UK. By 2020, MAGNA, the research arm of media buying firm IPG Mediabrands, expects digital ads to make up 50 percent of all ad spending, expected to reach $237 billion this year.
Neither the TSX Venture Exchange 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.
SOURCE Good Life Networks Inc.
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