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TORONTO, Aug. 16, 2024 (GLOBE NEWSWIRE) -- ARHT Media Inc. ("ARHT" or "the Company") (TSXV: ART), (OTCQB: ARHTF) the global leader in the development, production and distribution of high-quality, low latency hologram and digital content, confirmed that it has satisfied an aggregate of $175,787.35 of interest owed to certain arm's-length and non-arm's length holders of debentures (the " Debentures ") through the issuance of an aggregate of 2,929,793 common shares of the Company (each, a " Common Share ") at a price of $0.06 per share (the " Debt Settlement "). The Debentures were issued in August 2023, February 2024 and June 2024, respectively, mature on August 3, 2025, and carry an annual interest rate of 15%, accrued and payable semi-annually on each of June 30 and December 31, payable in cash or Common Shares at the option of the Company and subject to the approval of the TSX Venture Exchange (the " TSXV "). See press releases dated August 3, 2023, January 2, 2024, February 20, 2024, June 7, 2024 and July 24, 2024.
All Common Shares issued in connection with the Debt Settlement are subject to a hold period of 4 months plus a day from the issuance and the resale rules of applicable securities legislation.
About ARHT
ARHT is a pioneer and the global leader in live hologram technology. Thanks to its patented end-to-end technology, executives, medical experts, educators, entertainers, and thought leaders can travel at the speed of light to any destination.
ARHT was founded in 2014 and is publicly traded on the TSX Venture Exchange. ARHT has offices in North America, Europe and Asia and operates from its own studios in locations from Toronto to Singapore, as well as a large network of partner studios in every region.
Connect with ARHT: LinkedIn: https://www.linkedin.com/company/arht-tech Instagram: https://www.instagram.com/arht.tech Facebook: https://www.facebook.com/arht.tech X: https://twitter.com/arht_tech Youtube: https://www.youtube.com/@arht-tech
For more information, please visit www.arht.tech/about/investors or www.arht.tech . Alternatively, email us directly at info@arht.tech .
ARHT trades under the symbol " ART " on the TSX Venture Exchange .
Press Inquiries : Kristen Spence kspence@arht.tech
ARHT Vasily Ryabov Chief Financial Officer +1 (416)-782-8042 (head office)
This press release may contain "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, the intention to exercise convertible securities of the Company; disclosure related to the Company's sales funnel; the Company's technology; the potential uses for the Company's technology; the future planned events using the Company's technology; the future success of the Company; the ability of the Company to monetize the ARHT Media technology; the development of the Company's technology; and interest from parties in ARHT's products. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic and competitive uncertainties; regulatory risks; risks inherent in technology operations; and other risks of the technology industry. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
