Personas Announces a $650,000 Non-Brokered Private Placement

Toronto, Ontario–(Newsfile Corp. – May 19, 2023) – Personas Social Incorporated (TSXV: PRSN) (the “Company“) is pleased to announce it intends to complete a non-brokered private placement (“Private Placement“) of approximately 10,833,333 units (the “Units“) at a price of $0.06 per Unit to raise gross proceeds of approximately $650,000. All amounts are expressed in Canadian dollars.

Each Unit shall consist of one common share (a “Common Share“) and one-half of one common share purchase warrant (each whole warrant, a “Warrant“). Each Warrant shall be exercisable into one Common Share at an exercise price of $0.08 for a period of 24 months from the date of issuance.

The Company plans to use the proceeds of the Private Placement for product developments and for general corporate working capital. The Private Placement is subject to a statutory 4-month and one day hold period from the date of issuance. The Private Placement remains subject to approval by the TSX Venture Exchange and applicable securities regulatory authorities.

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 U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

About Personas
Personas Social Incorporated is a Canada-based company engaged in the business of offering live video conferencing technology, live streaming, social media products and services for use by consumers and businesses, with a focus on mobile (iOS and Android) products. It focuses on providing social commerce-enabled products which allow for a monetizable user experience to all users, consumers and businesses alike. The company accomplishes this by offering products which are complete with enterprise-grade e-commerce infrastructure including multi-currency, multi-lingual, turnkey mobile commerce suites for users.

For further information, please contact:
Personas Social Incorporated
Mark Itwaru
Chairman & Chief Executive Officer
Telephone: 647-789-0074
Email: mark@personas.com

Forward-Looking Statements
This news release may contain forward-looking statements. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations are risks detailed from time to time in the filings made by the Company with securities regulations. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by Canadian securities law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this Release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/166880