Reklaim Completes Convertible Debenture Financing to Accelerate Growth of Reklaim Protect

Executive Summary

• Reklaim Ltd. completed a non‑brokered private placement raising $500,000 through convertible debenture units sold to accredited investors.
• Each unit includes one senior secured convertible debenture (12% annual interest, 36‑month maturity) and warrants covering 50 % of the shares issuable upon conversion, with a total of 2,380,952 warrants issued.
• Proceeds will be used primarily to expand the Reklaim Protect subscription platform for consumer data monitoring and removal.

Key Details

• Offering Size: $500,000 total proceeds.
• Debenture Terms:
• Senior secured convertible debenture, 12.0% per annum interest, payable quarterly in cash or shares at holder’s election.
• Maturity: 36 months from closing date.
• Conversion price: C$0.105 per share.
• Early repayment right retained by the Company.
• Warrant Terms:
• Each warrant allows purchase of one common share at an exercise price of C$0.14.
• Warrants exercisable for 36 months from issuance; half expire immediately if principal is repaid within the first year, the remainder expire one year after closing.
• Total warrants issued: 2,380,952 (representing 50 % of shares issuable upon conversion).
• Forced Conversion Provision: Company may force conversion if TSXV VWAP ≥ C$0.20 for ten consecutive trading days.
• Use of Proceeds: Primarily to support continued expansion of the Reklaim Protect platform (consumer data monitoring, removal, and monetization services).
• Fees & Hold Period: No commissions or finder's fees paid; securities subject to a four‑month plus one‑day hold period per applicable securities laws.
• Regulatory Condition: Offering remains pending final approval by the TSX Venture Exchange (TSXV).

Notable Quotes

(No executive quotes were included in the release.)