Killi Finalizes Name Change, Closes Sale of Freckle Business Unit and Announces Filing of First Quarter Results
The company is now focused and fully-capitalized on expanding Killi into the global leader in consumer privacy.
TORONTO, May 29, 2020 /CNW/ – Killi Ltd. (the “Company“) (TSXV: MyID) announces the finalization of several corporate initiatives including the closing of the Freckle transaction with PlaceIQ, the Company’s name change to Killi Ltd, and the filing of the Financial Statements, Management Discussion and Analysis for the period ending March 31, 2020.
The combination of the closing of the Freckle transaction, as well as the changes to the company’s name and ticker symbol, allows us to turn the page on the Freckle era and remove any confusion about what the focus of the business is moving forward” commented Killi’s Founder and CEO Neil Sweeney. “With the non-dilutive capital from the sale of the Freckle unit, as well as the completed financing that we announced earlier this week, the Company is now well-capitalized to continue to build on its goal of being the global leader in consumer privacy.”
Name Change to Killi Ltd.
The Company’s previously announced name change to “Killi Ltd.” is effective today and trades under the symbol MyID.TSXV. MyID was chosen as the ticker symbol as it is the goal of Killi to provide an ecosystem to allow consumers to put all of their consumer data and identity under their control. The new CUSIP/ISIN numbers for the Class A common shares of the Company (the “Common Shares“) are as follows: 49423R106/CA49423R1064. Existing shareholders are not required to take any action concerning the name change. Issued share certificates representing the Common Shares will not be affected by the name change.
Closing of Sale of Offline Attribution Data Business
The Company has also completed the previously announced sale (the “Transaction“) of the Freckle offline attribution and data business (the “Purchased Assets“) to PlaceIQ, Inc. (“PlaceIQ“). For further details on the Transaction, see the Company’s press release dated April 6, 2020, and the Company’s management information circular dated April 23, 2020, which is available on the Company’s profile on SEDAR at www.sedar.com.
In connection with the Transaction Anthony Tsigourakos, the Chief Revenue Officer of Freckle has accepted employment with PlaceIQ.
Filing of Financial Results and Upcoming Shareholder Call
The Company has filed the interim unaudited condensed Consolidated Financial Statements and Management’s Discussion and Analysis (“MD&A”) for the three months ended March 31, 2020, on SEDAR at www.sedar.com.
In place of hosting a conference call to discuss these results, the Company will instead host an investor call in early June to discuss the Company outlook for operations and the Company’s financial position and to hold a question and answer session with shareholders.
Further to the voting results at the Company’s Annual General Meeting, the Company also announces that it has repriced the exercise price of 3,509,772 stock options (“Repriced Options“) previously issued to directors, officers and employees of the Company to $0.05. All other terms of the Repriced Options remain unchanged.
About Killi Ltd.
Killi (killi.io) is a consumer identity product, available in five countries, that allows individuals to take back control of their digital identity from those who have been using it without their consent. With Killi™, consumers can opt-in and select specific pieces of personal information that they would like to share with companies and be compensated directly in cash for its use.
Download Killi™ here.
For more information, please visit killi.io.
Neither the TSX Venture Exchange nor it’s Regulation Services Provider (as is defined in the policies of the TSX Venture Exchange) accepts 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. 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. They 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 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.
SOURCE Killi Ltd