Killi Announces Closing of Oversubscribed $4.5 Million Non-Brokered Private Placement

 

Toronto, Ontario–(Newsfile Corp. – March 10, 2021) – Killi Ltd. (TSXV: MYID) (OTCQB: MYIDF) (the “Company” or “Killi“) is pleased to announce the closing of its oversubscribed non-brokered private placement (the “Offering”) of 35,274,092 units of the Company (each, a “Unit” and collectively, the “Units”) at $0.13 per Unit, for aggregate gross proceeds of $4,585,632. In connection with the Offering, the Company issued an aggregate of 35,274,092 common shares in the capital of the Company (the “Common Shares”) and 35,274,092 common share purchase warrants.

No commissions or fees were paid in connection with this Offering. The Offering’s net proceeds will be used for general working capital requirements and to increase the overall awareness of Killi both in Canada and the USA. For further details concerning the Offering, please refer to the Company’s news releases dated February 25 and March 5, 2021, which are available on the Company’s profile on SEDAR at www.sedar.com.

All securities issued in connection with the Offering are subject to specific statutory hold periods as required under applicable securities laws and the rules and policies of the TSX Venture Exchange (the “TSXV”). Completion of the Offering is subject to the final approval of the TSXV.

To demonstrate continued support of the Company’s growth plans, a number of the Company’s insiders, including certain directors and officers, acquired an aggregate of $38,390 worth of Units under the Offering. Such participation is considered a “related party transaction” within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The related party transaction is exempt from minority approval, information circular, and formal valuation requirements pursuant to the exemptions contained in Sections 5.5(a) and 5.7(1)(a) of MI 61-101, as neither the fair market value of the gross securities issued under the Offering nor the consideration paid by the insiders exceeds 25% of the Company’s market capitalization.

About Killi Ltd

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 DividendTM 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 platforms.

To learn more about how Killi fairly pays users via its Fair-Trade DataTM program, please visit https://killi.io/earn.

Download Killi here.

For more information, please visit killi.io.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Andrew Elinesky, CFO

+1(416) 904-2725

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the TSX Venture Exchange policies) accept responsibility for the adequacy or accuracy of this news release.

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 Company’s financing plans; the proposed use of proceeds of the Offering; and other expected effects of the Offering. 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 and 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 dilution arising from the Offering; the Company may not receive final approval from the TSXV concerning the Offering; the Company may not use the proceeds from the Offering as intended; the Company may not increase the overall awareness of Killi in Canada or the United States; the uncertainty surrounding the spread of COVID-19 and the impact 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. Readers are cautioned not to place undue reliance on forward-looking statements. Except as required by law, the Company does not intend and undertakes no obligation to update any forward-looking statements to reflect, in particular, new information or future events.

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