CALGARY, Jan. 22, 2018 /CNW/ - Clarocity
Corporation (TSXV:CLY; OTCQB:CLRYF) (the "Company" or
"Clarocity") today announced that it will issue 1,540,542
common shares to debentureholders in lieu of cash as consideration
for interest payments due December 31,
2017, for the aggregate amount of $114,000.
Under the terms of the Company's indentures dated May 8, 2017 and January
25, 2016, debentureholders may elect to receive settlement
of monthly interest payments in the equivalent of common shares of
the Company converted at the greater of the market price prescribed
under the policies of the TSX Venture Exchange or the volume
average trading price for the 5 trading days prior to the interest
payment date. The conversion rate applicable to the December 31, 2017 interest rate payment is
$0.074 per common share. Following
the issuance, the Company will have 255,524,222 issued and
outstanding shares.
The issuance of the common shares remains subject to approval by
the TSX Venture Exchange.
About Clarocity Corporation
Clarocity Corporation provides real estate valuation solutions
and platform technologies designed to address today's dynamic
housing market. Our innovative platform is driving the
next-generation of valuation solutions such as MarketValue Pro
(MVP) and BPOMerge and setting new standards in real estate
valuation quality and reliability.
Every day GSE, banking, and investor clients rely on our
proprietary solutions to value assets, fund loans, and securitize
portfolios. As a fully integrated technology and valuation services
company, Clarocity provides a full spectrum of appraisal and
alternative valuation solutions. For more information, visit
www.clarocity.com.
Neither 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.
Forward-Looking Information
This news release contains forward-looking statements which may
include financial and business prospects, as well as statements
regarding the Company's future plans, objectives or economic
performance and financial outlooks. Such statements are subject to
risk factors associated with the real estate industry, the overall
economy in both Canada and
the United States. Forward-looking
information in this press release, includes, among other things,
information relating to any applicable approvals required in order
to complete the warrant surrender and share subscription which may
include, but is not limited to, the approval of the TSX Venture
Exchange. The Company believes that the expectations reflected in
this news release are reasonable but actual results may be affected
by a variety of variables and may be materially different from the
results or events predicted in the forward-looking statements.
Readers are therefore cautioned not to place undue reliance on
these forward-looking statements. In evaluating forward-looking
statements readers should consider the risk factors which could
cause actual results or events to differ materially from those
indicated by such forward-looking statements. These forward-looking
statements are made as of the date hereof, and unless otherwise
required by applicable securities laws, the Company does not intend
nor does it undertake any obligation to update or revise any
forward-looking statements.
This news release does not constitute an offer to sell or
a solicitation of an offer to buy any of the securities in
the United States. The securities
of the Company will not be registered under the United States
Securities Act of 1933, as amended (the "U.S. Securities Act, and
may not be offered or sold within the
United States or to, or for the account or benefit of U.S.
persons except in certain transactions exempt from the registration
requirements of the U.S. Securities Act)
SOURCE Clarocity Corporation