Acceleration of Warrant Expiry Date
CSE: URL / OTC: URLOF
VANCOUVER, June 7, 2019 /CNW/ - NameSilo Technologies Corp. (CSE: URL) (PINKSHEETS: URLOF) (the "Company") one of the world's fastest growing domain registrars has been voted "Best Registrar 2019" in a poll taken by Namepros, an online community where individuals buy, sell and discuss domain names. NameSilo received 24.4% of the votes, with industry giant GoDaddy taking second place with 21% of the votes.
NameSilo LLC CEO Kristaps Ronka states: "We were very pleased to see that a community of individuals that is active in the buying and selling of domains has embraced NameSilo in this recent poll. We truly appreciate their support and will continue to endeavour to provide our growing community of NameSilo clients with best-in-class products and services in the months and years to come".
Acceleration of Warrant Expiry Date
Further, the Company announces that it has elected to accelerate the expiry date of the warrants (the "Warrants") issued on January 15, 2018 in connection with a non-brokered private placement unit offering (the "2018 Private Placement").
Pursuant to the terms of the Warrants, if the average closing price of the Company's shares on the Canadian Securities Exchange is equal to or greater than $0.45 per share for a period of twenty (20) consecutive trading days, the Company is entitled to accelerate the expiry date of the Warrants to a date that is thirty days after the notice of such acceleration is provided to holders of Warrants.
This news release constitutes notice to Warrant holders of the new expiry time. Any Warrants remaining unexercised after the new expiry time will be cancelled.
Effective today, the Warrants issued to the purchasers pursuant to the 2018 Private Placement are set to expire at 5:00 p.m. (Vancouver time) on July 7, 2019.
How to Exercise Warrants
Warrant holders who wish to exercise their Warrants should instruct their investment advisor and be prepared to provide payment to their advisor firm equal to the exercise price for each Warrant exercised. Investors should consult with their investment advisor to confirm the time required to complete this process and other costs associated with the exercise, if any.
Warrant holders who hold a physical certificate wishing to exercise Warrants need to provide the Company with a certified cheque, bank draft or money order payable to the Company, together with the Warrant certificate with the exercise appended to the certificate duly completed.
About NameSilo Technologies Corp. and NameSilo LLC
NameSilo Technologies Corp. invests its capital in companies and opportunities which management believes are undervalued and have potential for significant appreciation. The company makes investments in both public and private markets and focuses on opportunities in a wide variety of industries excluding the resource and resource service sectors. NameSilo does not invest on behalf of any third party and it does not offer investment advice.
NameSilo LLC is a low-cost provider of domain name registration and management services. As an accredited ICANN registrar, NameSilo is one of the fastest growing domain registrars in the world with over 2.73 million active domains under management, and over 270,000 customers from approximately 160 countries.
Disclaimer for Forward-Looking Information
Certain statements in this news release are forward-looking statements, which reflect the expectations of management regarding potential future investments by the Company. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements and set forth in detail in the Company's CSE Listing Statement dated August 1, 2018. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause the Company's actual results to differ materially from those expressed or implied by the forward-looking statements.
SOURCE NameSilo Technologies Corp.
For further information: NameSilo Technologies Corp.: Paul Andreola, President, CEO and Director, (604) 644-0072, www.brisio.com; NameSilo LLC, Kristaps Ronka, CEO, [email protected], www.namesilo.com