MRBLF - Marble Financial Announces Closing of Non-Brokered Private Placement
(TheNewswire)
Vancouver, BC – TheNewswire - March 26, 2021 - Marble Financial Inc. (CSE:MRBL ) ( OTC:MRBLF ) ( FSE:2V0) (CNSX:MRBL.CN) (“Marble” or the“Company”) , an AI-driven financialtechnology company that educates and helps Canadians better understandand manage their current cashflow and credit towards a betterfinancial future , is pleased to announce theclosing of its non-brokered private placement (the “Placement”). Marble issued 2,333,333 units (the“Units”) at a price of $0.30 per Unit for gross proceeds of$700,000.
Each Unit is comprised of one common share of theCompany (“Shares”) and one-half of one non-transferable warrant,with each whole warrant (each a “Warrant”) being exercisable topurchase a further Share at a price of $0.45 for a period of 12 monthsfollowing the closing date, subject to accelerated expiry if thecommon shares of the Company trade or close at a price of $0.55 ormore for 10 consecutive trading days on the Canadian SecuritiesExchange (“CSE”). Pursuant to the closingof the Placement, a director of the Company purchased 200,000Units.
All securities issued in connection with the Placement,are subject to a statutory hold period expiring July 27, 2021.
The participation by the director in the Placementconstitutes a "related party transaction" within the meaningof Multilateral Instrument 61-101 - Protection of Minority Security Holders inSpecial Transactions (" MI 61-101 ") and the policies ofthe CSE. The Company is relying upon the exemptions from the formalvaluation and minority shareholder approval requirements pursuant tosections 5.5(a) and (b), and 5.7(1)(a), respectively, of MI 61-101 onthe basis that neither the fair market value of the subject matter of,nor the fair market value of the consideration for, the transactioninsofar as it involves interested parties (within the meaning of MI61-101) in the Placement exceeds 25% of the Company's marketcapitalization calculated in accordance with MI 61-101, and on thebasis that no securities of the Company are listed or quoted on astock exchange as specified in MI 61-101.
ON BEHALF OF THE BOARD OF DIRECTORS
Karim Nanji, CEO
About Marble Financial Inc. (CSE:MRBL; OTC: MRBLF; FSE:2V0) Marbles’proprietary MyMarble platform utilizes the power ofmachine learning, data science, and artificial intelligence, inleveraging its proven data driven strategies through technologysolutions Fast-Track, Score-Up, and Maestro to engage in and navigatea clear path towards financial wellbeing and a meaningful creditscore, since 2016, Marble is proud to have empowered thousands ofmarginalized consumers to a positive financial future, and we continueto establish ourselves as leaders in financial wellness through thelicensing of our proprietary products on the MyMarble Platform .
For further information, please visit the company'swebsite at http://mymarble.ca
Mike Marrandino,
Executive Chairman
T:(855) 661-2390 ext.104
Email: ir@marblefinancial.ca
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITSREGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITYFOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Caution Regarding Forward-Looking Information
This release contains "forward-lookinginformation" as such term is used in applicable Canadiansecurities laws, including statements regarding the Private Placementand the use of proceeds therefrom. The use of any of the words"target", "plans", "anticipate","continue", "estimate", "expect","may", "will", "project","should", "believe" and similar expressions areintended to identify forward-looking statements. Such forward-lookinginformation is based on management's expectations and assumptions,including statements relating to the Company's plans to conduct thePlacement and the anticipated use of the proceeds of the Placement andDebenture offerings.
In making the forward-looking statements included inthis news release, the Company has applied several materialassumptions, including but not limited to, that the Company'sfinancial condition and development plans do not change as a result ofunforeseen events, and that the Company will receive all requiredregulatory approvals, including Canadian Securities Exchange approval,for the Placement and Debenture offerings. Forward-looking informationis subject to a variety of risks and uncertainties and other factorsthat could cause plans, estimates and actual results to varymaterially from those projected in such forward-looking information.Factors that could cause the forward-looking information in this newsrelease to change or to be inaccurate include, but are not limited to:failure of the Private Placement to be arranged on the proposed termsor at all; unanticipated delays in obtaining or failure to obtainregulatory or Canadian Securities Exchange approvals; generaleconomic, market or business conditions; changes in the Company'sfinancial condition and development plans; and other risks anduncertainties as set forth in the Company's most recent continuousdisclosure filings filed under the Company's profile at www.sedar.com .
Although the Company has attempted to take into accountimportant factors that could cause actual costs or results to differmaterially, there may be other factors that cause actual results notto be as anticipated, estimated or intended. There can be no assurancethat such statements will prove to be accurate as actual results andfuture events could differ materially from those anticipated in suchstatements. The forward-looking information included in this releaseis expressly qualified in its entirety by this cautionary statement.Accordingly, readers should not place undue reliance onforward-looking information. The Company undertakes no obligation toupdate these forward-looking statements, other than as required byapplicable law.
THIS NEWS RELEASE DOES NOT CONSTITUTEAN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY ANY OF THESECURITIES IN THE UNITED STATES. THE SECURITIES HAVE NOT BEEN AND WILLNOT BE REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, ASAMENDED (THE "U.S. SECURITIES ACT") OR ANY STATE SECURITIESLAWS AND MAY NOT BE OFFERED OR SOLD WITHIN THE UNITED STATES OR TOU.S. PERSONS UNLESS REGISTERED UNDER THE U.S. SECURITIES ACT ANDAPPLICABLE STATE SECURITIES LAWS OR AN EXEMPTION FROM SUCHREGISTRATION IS AVAILABLE.
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