DATABLE TECHNOLOGY ANNOUNCES SHARE CONSOLIDATION, REPLACEMENT OF OUTSTANDING DEBENTURES AND FINANCING AND PROVIDES UPDATE ON LOI WITH LOCAL MARKETING SOLUTIONS GROUP

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VANCOUVER, BC, June 20, 2024 /CNW/ - Datable Technology Corporation (TSXV: DAC) (OTC Pink: TTMZF) (the "Company" or "Datable"), the developer of a proprietary, SaaS-based Consumer Lifecycle and Data Management Platform known as PLATFORM3, will implement the consolidation of its common shares in the capital of the Company (the "Shares"), replacement of outstanding convertible debentures due March 31, 2024 and April 22, 2024 (the "Debentures") and a private placement of common shares of up to $1,000,000 (the "Offering").

Share Consolidation

To optimize the capital structure of the Company and to attract financing, the board of directors of the Company has approved a share consolidation at a ratio of one post-consolidated Share for every ten (10) pre-consolidated Shares (the "Consolidation"). The Consolidation is anticipated to be completed in the immediate future, subject to TSX Venture approval. Immediately following the Consolidation, the issued and outstanding capital of the Company will be reduced to 22,107,235 Shares outstanding.

Financing

In connection with the Share Consolidation, the Company will be undertaking a private placement of up to 20,000,000 post-Consolidated Shares at $0.05 per post-Consolidated Shares to raise $1 million.

The Company intends to use the net proceeds raised from the Offering towards working capital and to fund the expenses of the proposed transaction with LMSG. The securities issued under the Offering will be subject to a statutory hold period in Canada expiring four months and one day from the closing of the Offering. Finders' fees or commissions may be payable to certain eligible persons.

Debenture Settlement

The Company also announces its intention to replace $2.892 million of outstanding Debentures and all accrued and unpaid interest thereon with new convertible unsecured debentures (the "Replacement Debentures").

The Replacement Debentures have a maturity date of March 31, 2026 (the "Maturity Date") and may be converted into post-Consolidated Shares at any time from the date of issuance until the Maturity Date, at a conversion price of $0.05 per Share until August 15, 2024 and then $0.10 per Share thereafter.

The Debentures will bear interest of 10% per annum, on a semi-annual basis, payable in cash or Shares at the Company's election.

The Consolidation, the Offering and the Replacement Debentures are all subject to TSX Venture approval, and, where applicable, subject to shareholder or debenture holder approval. Certain insiders of the company will be participating in the offering and the debt settlement and are relying upon exemptions from Multilateral Instrument 61-101 pertaining to the protection of minority shareholders in related-party transactions.