TORONTO, Nov. 13, 2018 (GLOBE NEWSWIRE) -- Kuuhubb Inc. (“Kuuhubb” or the “Company”) (KUU.V) reports that it continues to work towards closing the proposed €2,000,000 convertible debenture private placement financing (the “Proposed Financing”) first announced in the Company’s August 29, 2018 press release (reference is also made to the Company’s update press release of October 12, 2018). The Company has received approval from the TSX Venture Exchange (“TSX-V”) for a further 30 day extension under the TSX-V’s rules to close the Proposed Financing. The definitive purchase agreement for the Proposed Financing has been signed now, with closing of the Proposed Financing being subject to customary conditions precedent.
Kuuhubb also reports that, following the filing on SEDAR (www.sedar.com) on November 8, 2018 of the Company’s audited consolidated financial statements for the financial year ended June 30, 2018 (and related MD&A and certifications under National Instrument 52-109), the Ontario Securities Commission has now issued an order revoking the cease trade order (the “CTO”) with respect to securities of the Company. While trading in the Company’s shares on the TSX-V remains suspended as per the TSX-V’s policies, the Company has applied to the TSX-V to reinstate trading on the TSX-V as a result of the revocation of the CTO.
Kuuhubb is a company active in the digital space that focuses mainly on lifestyle and mobile game applications for the female audience. Its strategy is to create sustainable shareholder value through acquisitions of proven, yet underappreciated, assets with robust long-term growth potential. Headquartered in Helsinki, Finland, Kuuhubb has a global presence with a strong focus on developing U.S. brand collaborations and Asian partnerships.
Cautionary Note Concerning Forward-Looking Information
This press release contains forward-looking information. All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements relating to the closing of the Proposed Financing, the development and growth of the Company’s business, and the reinstatement of trading on the TSX-V) are forward-looking information. This forward-looking information reflects the current expectations or beliefs of the Company based on information currently available to the Company. Forward-looking information is subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking information, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on the Company. Factors that could cause actual results or events to differ materially from current expectations include, among other things, failure to complete the Proposed Financing, the need to satisfy conditions precedent with respect to the Proposed Financing, the possibility that the completion of the Proposed Financing may be delayed or that the terms of the Proposed Financing may change, the possibility that reinstatement of trading on the TSX-V may be delayed, risks related to the growth strategy of the Company, the possibility that results from the Company’s growth and development plans will not be consistent with the Company's expectations, the early stage of the Company's development, competition from companies in a number of industries, the ability of the Company to manage expansion and integrate acquisitions into its business, future business development of the Company and the other risks disclosed under the heading "Risk Factors" in the Company's annual information form dated November 8, 2018 filed on SEDAR at www.sedar.com. Forward-looking information speaks only as of the date on which it is provided and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.
Neither 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.
For further information, please contact:
Jouni Keränen - CEO
Office: +358 40 590 0919
Office: +1 (416) 479-9547