SABIO HOLDINGS ANNOUNCES CLOSING OF CONVERTIBLE NOTE OFFERING
Summary
As a part of the Offering, Mr. Aziz Rahimtoola, the Chief Executive Officer of the Company subscribed for an Unsecured Note in the principal amount of CAD$537,850. Since Mr. Rahimtoola is an Insider (as such term is defined in the policies of the TSXV) of the Company, pursuant to the policies of the TSXV, any Unsecured Notes exceeding 25% of the total proceeds of the Offering were issued to Mr. Rahimtoola at the higher of (i) the Market Price (as such term is defined in the policies of the TSXV) of the Common Shares as of market close on August 15, 2023, being CAD$0.55; or the (i) the Conversion Price of CAD$1.00.The Secured Notes bear interest at the rate of fourteen percent (14%) per annum payable semi-annually in arrears in cash or Common Shares at the option of the Company. "U.S. person" and "United States" have the respective meanings ascribed to them in Regulation S under the U.S. Securities Act.Sabio Holdings Inc. (TSXV: SBIO) (OTCQX: SABOF) is one of the fastest-growing CTV/OTT technology and service providers in the high-growth ad-supported video-on-demand (AVOD) and streaming space. For more information, visit: sabioholding.com.Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.Information set forth in this news release contains forward-looking information and statements that are based on assumptions as of the date of this news release. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward looking information.