Reklaim Announces Early Exercise of Warrants for Total Proceeds of $1.5 Million
Voluntary support from Shareholders increases the Company's working capital significantly.
Toronto, Ontario--(Newsfile Corp. - October 29, 2020) - Reklaim Ltd. (TSXV: MYID) (OTCQB: MYIDF) ("Reklaim" or "the Company"), a global leader in consumer privacy, announces that holders of certain common share purchase warrants (the "Warrants") have exercised and purchased 30 million common shares adding $1.5 million to the Company's treasury.
"Having the support of our shareholders has helped put our Balance Sheet in an even stronger position and given us the needed liquidity to increase the visibility and scale of the Reklaim ecosystem," Neil Sweeney, Founder and CEO of Reklaim commented. "The anticipated ramp-up of revenue starting in the fourth quarter of this year is pushing us closer to reaching Reklaim's goal to redistribute wealth back to everyday citizens based on what's rightfully theirs, their data. With unemployment at 10% and the value of consumer data exceeding $500 per month, even a small redistribution of money can make a material difference to a consumer."
About Reklaim Ltd
Reklaim Ltd. (TSXV: MYID, OTCQB: MYIDF) is a consumer privacy ecosystem that allows consumers to take back control of their consumer data from those who have been collecting it and selling it unbeknownst to them.
Reklaim is currently available online or via iOS or Android in five countries (US, Canada, Singapore,
Australia, and New Zealand). Reklaim pays users automatically every week a cash Data DividendTM for the use of their data, making Reklaim the only company in the world that is rewarding users for the purchase of their data.
Reklaim is also the creator of uaretheproduct.io, a consumer-facing website that allows consumers to determine their data's value broken out by individual platforms.
Download Reklaim here.
For more information, please visit Reklaim.
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