Reklaim Announces $1 Million Unit Financing

Toronto, Ontario–(Newsfile Corp. – November 30, 2022) – Reklaim Ltd. (TSXV: MYID) (OTCQB: MYIDF) (“Reklaim” or the “Company“) announces a non-brokered financing consisting of up to 28,571,428 common shares at a price of $0.035 per unit (the “Units“) for gross aggregate proceeds of up to $1 million (the “Offering“). The net proceeds will be used for acquisition, sales growth, and general corporate purposes.

Each Unit will be comprised of one common share in the capital of Reklaim (a “Common Share“) and one Common Share purchase warrant (a “Warrant“). Each Warrant will entitle the holder thereof to purchase one Common Share at an exercise price of $0.10 for a period of 36 months following the closing of the Offering. In the event that the volume-weighted average trading price of the Common Shares on the TSX Venture Exchange (the “TSXV“) is more than $0.15 for a period of 20 consecutive trading days, Reklaim may accelerate the expiry date of the Warrants to 30 days from the date on which Reklaim provides written notice to the holders of the Warrants.

A finder’s fee of 8% cash and 8% brokers warrants, each exercisable on the same terms as the Warrants, will be payable on a portion of the Offering. Closing of the Offering is subject to the approval of the TSXV. Because the Offering is being completed pursuant to the Listed Issuer Financing Exemption, the securities issued in the Offering will not be subject to a hold period pursuant to applicable Canadian Securities laws. Investors accredited or not, that would like to participate in this offering should reach out directly to investorrelations@reklaimyours.com

Closing of the Offering is intended to occur on or around December 15, 2022. Research Capital Corporation is acting as the finder for this raise.

There is an offering document related to this offering that can be accessed under the issuer’s profile at www.sedar.com and at www.reklaimyours.com. Prospective investors should read this offering document before making an investment decision.

This press release is not an offer to sell or the solicitation of an offer to buy the securities in the United States or in any jurisdiction in which such offer, solicitation, or sale would be unlawful prior to qualification or registration under the securities laws of such jurisdiction. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from U.S. registration requirements and applicable U.S. state securities laws.

About Reklaim

Reklaim is driven by consumer data and the evolution of privacy. Offering compliant, zero-party data to Fortune 500 brands, platforms, and data companies, Reklaim allows consumers to visit the platform, confirm their identity, and unveil data that has been collected and sold for years without the consumer’s explicit consent. Reklaim enables consumers to take back control of this data by setting up a Reklaim account through which, should they choose to, they can be compensated for their data or protect it via a suite of privacy tools. To view more information about Reklaim, visit https://investors.reklaimyours.com.

For further information, please contact

Ira Levy, CFO
1-855-908-DATA
E: investorrelations@reklaimyours.com

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

Forward-Looking and Other Cautionary Statements

This news release contains projections and forward-looking information that involve various risks and uncertainties regarding future events. Such forward-looking information can include statements based on current expectations involving several risks and uncertainties without limitation and are not guarantees of the Company’s future performance. Actual results and future events could differ materially from those anticipated in such information. 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 Company may not receive conditional or final approval of the TSXV for the Offering; the Offering may not close on or around the intended date; the Offering may not proceed as planned; the Company may not use the proceeds of the Offering as intended; the market for privacy may not continue to grow, and recent privacy regulations may not have the anticipated effect; and 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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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/146317