/NOT FOR DISTRIBUTION TO
The Company settled the aggregate principal amount of the Redeemed Debentures by the issuance of 10,303,703 common shares of the Company, which shares were issued at a price of
None of the securities issued in connection with the Redemption or the Interest Conversion will be registered under the United States Securities Act of 1933, as amended, or state securities laws and none may be offered or sold in
EMERGE is a premium e-commerce brand portfolio in
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This press release may contain certain forward-looking information and statements ("forward-looking information") within the meaning of applicable Canadian securities legislation, that are not based on historical fact, including, without limitation, statements related to expectations regarding savings in annualized interest expense, the possibility of the conversion of the unredeemed Debentures at the adjusted conversion price and of further debt reduction, the long-term interest of stakeholders, as well as other statements containing the words "believes", "anticipates", "plans", "intends", "will", "should", "expects", "continue", "estimate", "forecasts" and other similar expressions. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements. The forward-looking information contained herein is based on the assumptions of management of the Company as of the date hereof including, without limitation, assumptions with respect to the financial position and working capital of the Company, macro-economic factors including interest rate changes, and the conditions of the financial markets and the e-commerce markets generally, among others. The Company undertakes no obligation to comment on analyses, expectations or statements made by third-parties in respect of the Company, its securities, or financial or operating results (as applicable). Although the Company believes that the expectations reflected in forward-looking information in this press release are reasonable, such forward-looking information has been based on expectations, factors and assumptions concerning future events which may prove to be inaccurate and are subject to numerous risks and uncertainties, certain of which are beyond the Company's control, including risks that annualized interest expense savings will not be realized as expected or at all, that unredeemed Debentures will not be redeemed and there will be no further debt reduction, and that the transactions will not be in the best long-term interest of stakeholders, changes to general economic factors, as well as the risk factors discussed in the Company's MD&A, and other public disclosure filings which are available through SEDAR+ at www.sedarplus.ca. The forward-looking information contained in this press release are expressly qualified by this cautionary statement and are made as of the date hereof. The Company disclaims any intention and has no obligation or responsibility, except as required by law, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.
On Behalf of the Board
Director, President, and CEO
SOURCE
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