TORONTO, Jan. 28, 2020 /CNW/ - 01 Communique Laboratory
Inc. (the "Company") (ONE: TSX-V) today announced that it has
completed a refinancing of its outstanding $400,000 principal amount of secured
debentures.
On April 24, 2015 the Company
issued $400,000 principal amount of
secured debentures that had a term of 36 months and bore interest
at a rate of 10% per annum calculated and payable quarterly. The
Company previously amended such debentures to extend their term to
April 24, 2020 and to increase the
annual interest rate to 15%. In connection with the issuance of
such debentures the Company had issued a total of 800,000 common
share purchase warrants each of which, after certain amendments,
entitled the holder to acquire one common share at a price of
$0.10 until April 24, 2020, subject to an accelerated expiry
provision which was triggered in 2019. The Company agreed
with the holders of such debentures to redeem the debentures
without any prepayment penalty and issue new secured debentures
with the same terms other than a new expiry date of April 24, 2021. In connection with the
issuance of the new debentures the Company has also issued an
aggregate of 800,000 common share purchase warrants. Each such
warrant is exercisable at any time prior to April 24, 2021 into one common share in the
capital of the Company at an exercise price of $0.13 per share.
The debentures and warrants were issued pursuant to an exemption
from the prospectus requirements and are subject to a hold period
that expires four months and one day following the date of
issuance.
About 01 Communique
Established in 1992, 01 Communique
Laboratory Inc. (TSX-V: ONE) has always been at the forefront of
technology. In early 2018 the Company announced the transition of
its business focusing on post-quantum cybersecurity with the
development of its IronCAP technology. IronCAP is an advanced
Goppa code-based post-quantum cryptographic technology that can be
implemented on classical computer systems as we know them today
while at the same time can also safeguard against attacks in the
future post-quantum world of computing. The Company's legacy
business provides its customers with a suite of secure remote
access services and products. The Company's legacy products are
protected in the U.S.A. by its
patents #6,928,479 / #6,938,076 / #8,234,701; in Canada by its patents #2,309,398 / #2,524,039
and in Japan by its patent
#4,875,094. For more information, visit the Company's web site at
www.ironcap.ca and www.01com.com
Cautionary Note Regarding Forward-looking
Statements
Certain statements in this news release may
constitute "forward-looking" statements which involve known and
unknown risks, uncertainties and other factors which may cause the
actual results, performance or achievements of the Company, or
industry results, to be materially different from any future
results, performance or achievements expressed or implied by such
forward-looking statements. When used in this news release, such
statements use such words as "may", "will", "expect", "believe",
"plan", "intend", "are confident" and other similar terminology.
These statements reflect current expectations regarding future
events and operating performance and speak only as of the date of
this news release. Forward-looking statements involve significant
risks and uncertainties, should not be read as guarantees of future
performance or results, and will not necessarily be accurate
indications of whether or not such results will be achieved. A
number of factors could cause actual results to differ materially
from the results discussed in the forward-looking statements,
including, but not limited to, the factors discussed under "Risk
and Uncertainties" in the Company's Management`s Discussion and
Analysis document filed on SEDAR. Although the forward-looking
statements contained in this news release are based upon what
management of the Company believes are reasonable assumptions, the
Company cannot assure investors that actual results will be
consistent with these forward looking statements. These
forward-looking statements are made as of the date of this news
release, and the Company assumes no obligation to update or revise
them to reflect new events or circumstances.
Neither TSX Venture Exchange ("TSX-V") 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 01 Communique Laboratory Inc.