Hello Pal Closes Final Tranche of Private Placement and Debt Settlement
Vancouver, British Columbia--(Newsfile Corp. - July 20, 2020) - Hello Pal International Inc. (CSE: HP) (FSE: 27H) (OTC Pink: HLLPF) ("Hello Pal" or the "Company"), a provider of rapidly growing international live streaming, social messaging and language learning mobile apps, is pleased to announce it has closed the second and final tranche of its previously announced private placement and debt settlement by issuing a total of 6,666,666 common shares at a price of $0.06 per share for total proceeds of $400,000 (the "Financing"). Together with the first tranche of the Financing (see news release dated June 25, 2020), the Company issued 41,666,667 Shares at $0.06 per share for total gross proceeds of $2,500,000.
All shares issued in connection with the final tranche of the Financing will be subject to restrictions on resale until November 17, 2020.
Proceeds of the offering have been used to free up the Company's balance sheet and allow the Company to focus its capital on the growth of the livestream business in Hello Pal.
To download Hello Pal, Language Pal, Travel Pal or the proprietary Phrasebooks please visit the IOS or Android store. For information with respect to the Company or the contents of this news release, please contact the Company at (604) 683-0911 or visit the website at hellopal.com. Email inquiries can be directed to: email@example.com.
About the Hello Pal Platform
The Hello Pal Platform is a proprietary suite of mobile applications built on a user-friendly messaging interface that focus on social interaction, language learning and travel. Hello Pal, has been designed from the ground up to be easy to use and enables users' the freedom to speak in their own language regardless of the other person's language they are speaking to. Hello Pal's overriding mission is to bring the world closer together through social interaction, language learning and travel. By creating a platform where it is easy to instantly interact with others around the world and giving them the tools to communicate with each other in a joyful and fun way, we hope to do our part (however small) in fostering understanding and tolerance between all citizens of the world.
Information set forth in this news release contains forward-looking statements. These statements reflect management's current estimates, beliefs, intentions, and expectations; they are not guarantees of future performance. Hello Pal cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond Hello Pal's control. Such risks and uncertainties are described in Hello Pal's annual and interim management discussion and analysis available on www.thecse.com. Although Hello Pal is currently generating revenues, Hello Pal remains in the growth stage and such revenues are yet to be profitable. Accordingly, actual, and future events, conditions and results may differ materially from the estimates, beliefs, intentions, and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, Hello Pal undertakes no obligation to publicly update or revise forward-looking information.
THE CSE HAS NEITHER APPROVED NOR DISAPPROVED THE INFORMATION CONTAINED HEREIN AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/60043