/NOT FOR RELEASE OR DISSEMINATION IN THE UNITED STATES/
TORONTO, Nov. 22, 2019 /CNW/ - ARHT Media Inc. (the
"Company" or "ARHT") (TSX-V: ART), a global leader in holographic
telepresence, is pleased to announce the completion of the
settlement of its USD $400,000 (Cad
equivalent $530,000) indebtedness
owed to ARHT Asia Limited ("ARHT Asia") through the issuance of
4,076,923 Units (as defined herein), as previously announced in its
October 17, 2019 news release.
Each unit ("Unit") is valued at CAD $0.13 per Unit and consists of one common share
in the capital of the Company (each a "Common Share") and one
common share purchase warrant (each a "Warrant"). Each whole
Warrant entitles ARHT Asia to purchase one Common Share at a price
of CAD$0.18 per Common Share,
exercisable for 36 months from the date of issue, being
November 22, 2019. If, at any time
after March 23, 2020, the price per
Common Share on the principal market on which such shares trade is
CAD$0.50 or higher (on a volume
weighted adjusted price basis) for a period of at least six (6)
consecutive weeks, then the Company may elect to accelerate the
expiry date of the Warrants and, as such, the Warrants will expire
on the date which is thirty (30) days following the date upon which
the Company issues a new release announcing the accelerated expiry
date.
The Units are subject to a four month and one day statutory hold
period that expires on March 23,
2020.
About ARHT Media
ARHT Media's patented holographic telepresence technology is a
complete end-to-end solution that creates a sense of presence for
audiences – as though the holographic presenter was actually live
in the room. With no noticeable latency, ARHT Media makes two-way
live communication with a 3D holographic presenter anywhere in the
world possible. We can also playback pre-recorded content and 3D
animations on our displays to deliver rich holographic experiences.
Connect with ARHT Media
Twitter: http://www.twitter.com/ARHTmedia
Facebook: http://www.facebook.com/ARHTmediainc
LinkedIn:
http://www.linkedin.com/company/arht-media-inc
For more information, please visit http://www.arhtmedia.com or
contact the investor relations group at info@arhtmedia.com.
ARHT Media trades under the symbol "ART" on the Toronto Venture
Stock Exchange.
Regulatory Statements
This press release contains "forward-looking information" within
the meaning of applicable Canadian securities legislation.
Forward-looking information includes, but is not limited to,
statements with respect to the closing of the Offering or the use
of proceeds of the Offering. Generally, forward looking information
can be identified by the use of forward-looking terminology such as
"plans", "expects" or "does not expect", "is expected", "budget",
"scheduled", "estimates", "forecasts", "intends", "anticipates" or
"does not anticipate", or "believes", or variations of such words
and phrases or state that certain actions, events or results "may",
"could", "would", "might" or "will be taken", "occur" or "be
achieved". Forward-looking information is subject to known and
unknown risks, uncertainties and other factors that may cause the
actual results, level of activity, performance or achievements of
the Company to be materially different from those expressed or
implied by such forward-looking information, including but not
limited to: general business, economic and competitive
uncertainties; regulatory risks; risks inherent in technology
operations; and other risks of the technology industry. Although
the Company has attempted to identify important factors that could
cause actual results to differ materially from those contained in
forward-looking information, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can
be no assurance that such information will prove to be accurate, as
actual results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not
place undue reliance on forward-looking information. The Company
does not undertake to update any forward-looking information,
except in accordance with applicable securities laws.
This news release does not constitute an offer to sell or a
solicitation of an offer to buy any of the securities in
the United States. The securities
have not been and will not be registered under the United States
Securities Act of 1933, as amended (the "U.S. Securities Act"), or
any state securities laws and may not be offered or sold within
the United States or to, or for
the account or benefit of U.S. persons (as defined in Regulation S
under the 1933 Act) absent such registration or an applicable
exemption from such registration requirements.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES
PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX
VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR
ACCURACY OF THIS RELEASE.
SOURCE ARHT Media