TORONTO, March 27, 2019 /CNW/ - 01 Communique Laboratory
Inc. (TSX-V:ONE) today announced that it has entered into an
agreement to amend the terms of its previously issued $400,000 principal amount of debentures (the
"Debentures") and 800,000 common share purchase warrants that were
issued on April 24, 2015.
Each Debenture currently bears interest at a rate of 15% per
annum, calculated and payable quarterly. The Debentures had an
original term of 36 months expiring on April
24, 2018 (which was previously extended to April 24, 2019) and are redeemable at any time
prior to maturity at the discretion of 01 Communique with payment
of an additional three months interest. The Debentures are secured
by a general security agreement. Each warrant is exercisable into
one common share in the capital of 01 Communique at any time until
April 24, 2018 at an exercise price
of $0.10 per Common Share. Under the
terms of the proposed amendments the maturity date of the
Debentures and the expiry date of the warrants would be extended
until April 24, 2020. In
addition the warrants will continue to include an expiry date
acceleration clause such that the exercise period of the warrants
will be reduced to 30 days if, for any ten consecutive trading days
during the unexpired term of the warrant (the "Premium Trading
Days"), the closing price of the common shares of 01 Communique
exceeds the exercise price of the warrants by 25% or more and the
reduced exercise period of 30 days will begin no more than 7
calendar days after the tenth Premium Trading Day).
The amendments remain subject to the approval of the TSX Venture
Exchange.
Neither TSX Venture Exchange
("TSX-V")
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.
About 01 Communique.
Established in 1992, 01
Communique Laboratory Inc. (TSX-V: ONE) has always been at the
forefront of technology. The Company's legacy business provides its
customers with a suite of secure remote access services and
products. In early 2018 the Company began transitioning its
business focusing on cybersecurity with the development and
implementation of Post-Quantum Cryptography and Post-Quantum
Blockchain technologies, which can be implemented on classical
computer systems as we know them today while at the same time
secure enough to safeguard against potential Quantum Computer
attacks. The Company's legacy products are protected in the
U.S.A. by its patents #6,928,479 /
#6,938,076 / #8,234,701; in Canada
by its patents #2,309,398 / #2,524,039 and in Japan by its patent #4,875,094. For more
information visit the Company's web site at www.01com.com.
Cautionary Note Regarding Forward-looking Statements.
Certain statements in this news release may constitute
"forward-looking" statements which involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of the company, or industry results, to
be materially different from any future results, performance or
achievements expressed or implied by such forward-looking
statements. When used in this news release, such statements use
such words as "may", "will", "expect", "believe", "plan", "intend",
"are confident" and other similar terminology. These statements
reflect current expectations regarding future events and operating
performance and speak only as of the date of this news
release. Forward-looking statements involve significant risks
and uncertainties, should not be read as guarantees of future
performance or results, and will not necessarily be accurate
indications of whether or not such results will be achieved. A
number of factors could cause actual results to differ materially
from the results discussed in the forward-looking statements,
including, but not limited to, the factors discussed under "Risk
and Uncertainties" in the company's Management`s Discussion and
Analysis document filed on SEDAR. Although the forward-looking
statements contained in this news release are based upon what
management of the Company believes are reasonable assumptions, the
company cannot assure investors that actual results will be
consistent with these forward looking statements. These
forward-looking statements are made as of the date of this news
release, and the company assumes no obligation to update or revise
them to reflect new events or circumstances.
SOURCE 01 Communique Laboratory Inc.