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Vancouver, British Columbia–(business wire)–Regible Co., Ltd. (CSE: READ) (FSE: D0T) (OTC: LEBGF) (“Legible” or “Company”) is pleased to provide the following corporate update from CEO Kaleeg Hainsworth.
As we start the new year, we’re excited to announce the progress of our browser-based e-reader platform and e-book store, Legible.com. As we work tirelessly to build and enhance our product offering, we are pleased to announce that 2023 will be a year of significant progress, growth and scaling for us.
An impressive line-up of products and features is planned for the first half of 2023, including:
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Release of Legible Unbound, a premier membership plan featuring unlimited searching and reading via an AI recommendation engine branded as Librarian AI.
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With the introduction of audiobooks, Legible has pioneered the integration of ebooks, audiobooks, and multimedia ebooks into a browser-based platform.
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Launch of Legible Wander, an app that enables readers to enjoy eBooks offline anywhere in the world.
It will also grow market share and readership by offering compelling reading options for mass transit and mass-market multimedia e-book content called Living Books, co-developed with renowned authors and influencers. We have established major partnerships to Our publishing vertical, affordable publishing.
In addition to these product launches, we will launch sales and marketing campaigns in 2022 leveraging our strategically built multiple channels and value propositions. Easier access to a larger investor pool, which may have been restricted in the past.
Regible believes the future of digital reading is bright and is excited to be at the forefront of this rapidly evolving industry. We are confident that Legible will continue to be a leader in this space and look forward to working with our shareholders, readers and partners to make this happen.
Thank you for your continued support as we execute on our vision of revolutionizing the global ebook market. Let’s welcome 2023 with success and prosperity.
Unit Recruitment Private Placement
Regible also announces an offering of $0.11 per unit for gross proceeds of up to $550,000 (the “Offer”), issued through a broker-free private placement, subject to applicable Canadian securities law exemptions.
Each unit consists of one share of our common stock (“Common Stock”) and one Common Stock Purchase Warrant (“Warrant”), and each Warrant holder may, at any time, purchase one additional Common Stock at a price of $0.15. You can buy shares. from the closing date to 5:00 p.m. (Vancouver time) on the day one year after him. provided, however, that after the date four months and one day after the closing date, the volume-weighted average trading price of the common stock in the CSE is at least $0.45 per share for five consecutive trading days. , the expiration date of the Warrant may be accelerated by the Company to a date not less than 21 days from the date notice of such acceleration is provided to the Warrant Holder. This notice may be provided by general press release.
We reserve the right to increase the Maximum Aggregate Total Revenue under the Offering to an amount greater than $550,000. The offering is expected to close on or around January 20, 2023 and may be completed in tranches, subject to customary closing conditions. Brokerage fees of up to 8% of the total proceeds of the private placement may be paid in cash for all or part of the private placement. In addition, the finder’s warrant may be issued in an amount up to 8% of his number of debenture units sold in the private placement. Each finder’s warrant is exercisable for him to acquire one share of common stock at a price of $0.11 per share for one year from closing. However, if the volume-weighted average trading price of the common stock on the CSE on or after the date four months and one day after closing is at least $0.45 per share for five consecutive days of trading, then the finder’s warrant expires. , may be accelerated by the Company up to a date not less than 21 days from the date notice of such acceleration is provided to the finder’s warrant holder. This notice may be provided by general press release.
We intend to use offering proceeds for general working capital purposes, including technology development, product and feature releases, marketing awareness, and conversion campaigns.
About Regible Co., Ltd.
Legible Inc. is a book entertainment and media company with a mission to bring millions of books to billions of readers worldwide. Legible delivers a revolutionary e-book reading experience wherever you have an internet-enabled device. Legible has developed two of his high-value lines of business. The first is a browser-based, mobile-first B2C eBook entertainment platform that offers a global online bookstore and reading system for the emerging web with high growth potential called Legible.com. A global B2B ebook conversion and production service with a high revenue potential called Affordable Publishing. Founded and led by a team of technologists, authors, e-book publishers, designers and publishing industry insiders, his Legible is transforming the digital publishing industry and revolutionizing his 21st century publishing and global reading experience. gaining market share through Legible incorporates core values of sustainability, accessibility and global literacy.
Visit Legible.com and discover where e-books come to life.
Cautionary Note Regarding Forward-Looking Statements
This press release contains certain statements that constitute forward-looking statements or information (“forward-looking statements”), including statements about Legible’s business and private placements. Such forward-looking statements are subject to a number of risks and uncertainties. some of which are due to general economic conditions, industry conditions, currency fluctuations, shortages of qualified personnel or management, stock market volatility, and the ability to access sufficient capital from internal and external sources. . Although Legible believes its forward-looking statements to be reasonable, they are based on factors and assumptions regarding future events that may prove to be inaccurate. These factors and assumptions are based on currently available information. Such statements are subject to known and unknown risks, uncertainties and other factors that could affect actual results or events, and actual results or events may differ from forward-looking information. may differ materially from those stated, anticipated or implied. Readers are therefore cautioned not to place undue reliance on forward-looking information, as no guarantees can be given as to future results, level of activity or achievements. The forward-looking statements contained in this document are made as of the date hereof and, except as required by applicable law, Legible does not publicly update any forward-looking statements contained. or under no obligation to correct. new information, future events, or other results. Any forward-looking statements contained in this document are expressly qualified by this cautionary statement.
NOT FOR DISTRIBUTION TO US NEWSWIRE SERVICES or for US dissemination
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