Killi Announces Early Exercise of Warrants for Total Proceeds of $1.5 Million
Voluntary support from Shareholders increases the Company's working capital significantly.
Toronto, Ontario--(Newsfile Corp. - October 29, 2020) - Killi Ltd. (TSXV: MYID) (OTC Pink: MYIDF) ("Killi" or "the Company"), a global leader in consumer privacy, announces that holders of certain common share purchase warrants (the "Warrants") have exercised and purchased 30 million common shares adding $1.5 million to the Company's treasury.
"Having the support of our shareholders has helped put our Balance Sheet in an even stronger position and given us the needed liquidity to increase the visibility and scale of the Killi ecosystem," Neil Sweeney, Founder and CEO of Killi commented. "The anticipated ramp-up of revenue starting in the fourth quarter of this year is pushing us closer to reaching Killi's goal to redistribute wealth back to everyday citizens based on what's rightfully theirs, their data. With unemployment at 10% and the value of consumer data exceeding $500 per month, even a small redistribution of money can make a material difference to a consumer."
Killi is a consumer privacy ecosystem that allows consumers to take back control of their consumer data from those who have been collecting it and selling it unbeknownst to them.
Killi is currently available online or via iOS or Android in five countries (US, Canada, Singapore, Australia, and New Zealand). Killi pays users automatically every week a cash Data Dividend™ for the use of their data, making Killi the only company in the world that is fairly compensating users for the purchase of their data.
Killi is also the creator of uaretheproduct.io, a consumer-facing website that allows consumers to determine their data's value broken out by individual platform.
Download Killi here.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Andrew Elinesky, CFO
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Forward-Looking and Other Cautionary Statements
This news release may contain "forward-looking statements" within the meaning of applicable securities laws, including, but not limited to: the number of Common Shares purchased as a result of the exercise of the Warrants; the support of the Company's shareholders and the strengthening of the Company's balance sheet as a result of said support and the increased liquidity as a result of the exercise of the Warrants and purchase of the Common Shares; the ability of the Company to transition into a company that has a growing recurring revenue profile; the anticipated increase in the Company's revenue in the fourth quarter of 2020; the impact of redistribution of wealth will have on consumers who use the Company's products and/or services; and the Company's strategic plans for the rest of 2020. Forward-looking statements may generally be identified by the use of the words "anticipates," "expects," "intends," "plans," "should," "could," "would," "may," "will," "believes," "estimates," "potential," "target," or "continue" and variations or similar expressions. These statements are based upon the current expectations and beliefs of management. They are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include, but are not limited to: the Company's balance sheet may not be put in a stronger position as a result of the support from the Company's shareholders and the increased liquidity as a result of the exercise of the Warrants and purchase of the Common Shares; the Company may not evolve from a revenue startup company to a company with a recurring revenue profile; the demand for the Company's products and services may decrease in the fourth quarter of 2020; the Company's revenue in the fourth quarter of 2020 may not increase; the redistribution of wealth generated by payments to the applicable consumers as a result of said consumers' use of the Company's products and services may not have a material impact on the consumers ; the uncertainty surrounding the spread of COVID-19 and the effect it will have on the Company's operations and economic activity in general; and the risks and uncertainties discussed in our most recent annual and quarterly reports filed with the Canadian securities regulators and available on the Company's profile on SEDAR at www.sedar.com, which risks and uncertainties are incorporated herein by reference.
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