LOOPShare Announces Extension of Convertible Debenture Term
Vancouver, British Columbia--(Newsfile Corp. - March 18, 2021) - LOOPShare Ltd. (TSXV: LOOP) (OTC Pink: LPPPF) (FSE: 3KZ) ("LOOPShare") announces that it and the lender have agreed to extend the maturity date for its outstanding $300,000 principal amount convertible debentures (the "Debentures") to September 18, 2021. In connection with the extension, the underlying detachable share purchase warrants (the "Warrants") will also have their maturity date extended to September 18, 2021.
Please refer to LOOPShare's press releases dated February 4, 2020, March 18, 2020 and March 19, 2020 for additional details on the terms of the Debentures and Warrants. The extension of the maturity date of the Debentures, and expiry date of the Warrants, is subject to the approval of the TSX Venture Exchange ("TSXV").
Cautionary Note Regarding Forward-Looking Information
This news release contains "forward-looking information" concerning anticipated developments and events related to LOOPShare Ltd. that includes, but is not limited to, statements with respect to the extension of the maturity date of the Debentures and expiry date of the Warrants. The Forward-looking information contained in this news release is based on certain factors and assumptions regarding, among other things, that TSXV approval will be received for the extensions. While LOOPShare considers this assumption to be reasonable, it may be incorrect.
Forward looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results to be materially different from any future results expressed by the forward-looking information. Such factors include the risk that TSXV approval is not received for the extensions and the additional risks identified in the "Risk Factors" section of LOOPShare's filings with applicable Canadian securities regulators.
Although LOOPShare has attempted to identify factors that could cause actual results to differ materially from those described in forward-looking information, there may be other factors that cause results not to be as anticipated. Accordingly, readers should not place undue reliance on forward-looking information. The forward-looking information is made as of the date of this news release. Except as required by applicable securities laws, LOOPShare does not undertake any obligation to publicly update any forward-looking information.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts 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/77796