Reklaim Ltd. Strengthens Balance Sheet with 18% Debt Reduction

Reduction highlights Reklaim's disciplined financial management  

NEW YORK, Feb. 13, 2025 /PRNewswire/ - Reklaim Ltd. (OTCQB: MYIDF) (TSXV: MYID) ("Reklaim" or the "Company"), the platform that empowers consumers to access, control, and monetize their personal data, announces an 18% reduction in overall debt, fully funded by existing cash flow. This reduction highlights Reklaim's disciplined financial management and commitment to shareholder value.

Separate from the debt reduction, Reklaim has completed a non-brokered private placement of convertible debenture units (the "Debenture Units") totalling $465,400 to accredited investors, replacing an existing outstanding facility.  Each Debenture Unit consists of one senior secured convertible debenture (the "Debenture") and one-half of a warrant. This transaction does not create new debt but refinances and replaces existing debenture holders.

The Debentures accrue interest at a rate of 12.0% per annum, are payable semi-annually, and mature in 2027. The Company reserves the right to repay the Debentures early.

Each warrant entitles the holder to purchase one common share (each a "Share") at an exercise price of C$0.14 per share for 24 months from the date of issue (the "Expiry Time"). Reklaim retains a forced conversion right should the Shares trade at a VWAP of $0.20 or higher on the TSX Venture Exchange (the "TSXV") for ten consecutive trading days. A total of 2,216,190 Warrants were issued under the Offering.

No commissions or fees are payable by the Company in connection with the Offering. The Offering remains subject to final approval by the TSXV, and all securities issued under the Offering are subject to a hold period of four months plus one day, in accordance with applicable securities laws.

Additional Information:

The Company has also agreed to issue 16,380 common shares (the "Settlement Shares") at a price of C$0.11 per share to certain platform users in Canada who participated in Reklaim's beta testing for a new product feature. The total value of this settlement is C$1,800.

About Reklaim Ltd.

Reklaim provides compliant, consumer-permissioned data to Fortune 500 brands, platforms, and data companies, empowering individuals to take control of their personal information. By visiting Reklaim, users can confirm their identity and uncover data collected and sold without their explicit consent. Through a Reklaim account, consumers can choose to monetize their data or safeguard it using Reklaim's suite of privacy tools. For more information, visit Reklaim's investor page.

Neither the 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 Statements:

This news release contains forward-looking statements and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will," "may," "should," "anticipate," "expects," and similar expressions.

All statements other than those of historical fact included in this release—including, but not limited to, statements regarding the TSXV's final approval of the Offering, the intended use of proceeds, and the closing of the Debt Settlement—are forward-looking statements involving risks and uncertainties. There can be no assurance that such statements will be accurate, and actual results may differ materially. Investors are cautioned not to place undue reliance on any forward-looking information.

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SOURCE Reklaim Ltd.