Perk Labs Announces Non-Brokered Private Placements

VANCOUVER, BC / ACCESSWIRE / June 12, 2024 / Perk Labs Inc. (CSE:PERK)(OTC PINK:PKLBF)(FKT:PKLB) has announced new non-brokered private placements of units and convertible debentures.

The company is proposing a private placement of up to 115,384,615 units at $0.013 per unit, for gross proceeds of up to $1,500,000. Each unit will include one common share and one common share purchase warrant, with each warrant enabling the holder to purchase an additional share at $0.05 for 24 months from closing.

In addition, Perk Labs plans a private placement of convertible debentures for gross proceeds of up to $1,000,000. These debentures, valid for two years at a 15% interest rate, will be convertible into common shares at $0.05 per share, subject to the terms in the debenture agreement.

The closing for both placements is expected by June 29, 2024, subject to customary conditions and necessary approvals. Net proceeds will support sales, marketing, and working capital. A statutory hold period of four months and one day will apply to all issued securities.

Certain related parties will participate, and the transactions will be exempt from formal valuation and shareholder approval requirements. Securities offered in these private placements will not be registered under U.S. securities laws.