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Marble Financial Announces $750,000 Debenture Offering
Jan. 30, 2020 07:07AM PST
Fintech Investing
Marble Financial Inc. is pleased to announce a non-brokered private placement of up to 750 unsecured convertible debentures.
Marble Financial Inc. (CSE:MRBL, OTC:MRBLF) (“Marble” or the “Company”) is pleased to announce a non-brokered private placement of up to 750 unsecured convertible debentures (the “Debentures”) with a face value of C$1,000, at a price of C$1,000 per Debenture for gross proceeds of up to C$750,000. The Debentures will have a one-year term and will accrue interest at a simple rate of 12% per annum, payable quarterly not in advance.
The principal amount of the Debentures and all accrued but unpaid interest thereon will be convertible, at the option of the holder, into common shares of the Company at a price of $0.30 per share, subject to adjustment in certain events. If the Company’scommon shares trade or close on the Exchange at $0.45 or higher for a period of 10 consecutive trading days, the Company has the option to force the conversion of the Debentures and all accrued but unpaid interest into common shares of the Company at a price of $0.30 per share.
The net proceeds from the Offering will be used to fund ongoing development costs to the Marble Platform as well as general working capital and corporate purposes. All securities issued will be subject to a four month hold period from the date of Closing. The Company may pay finder fees subject to compliance with applicable regulatory policies and the approval of the Exchange.
ON BEHALF OF THE BOARD OF DIRECTORS,
Karim Nanji, CEO
About Marble Financial Inc. (CSE: MRBL; OTCQB: MRBLF) We are a group of forward-thinking financial technology experts that fully understand the benefits and drawbacks of credit in Canada. Marble helps Canadians rebuild their credit to gain access to prime lending, through our industry-leading proprietary technology solutions Fast- Track, Score-Up, and Credit-Meds. Our proven strategy guides our customers back to a meaningful credit score, 50% quicker than traditional methods. Since 2016, Marble is proud to have empowered thousands of Canadians to a positive financial future and we continue to establish ourselves as leaders in financial wellness.
For further information, please visit the company’s website at https://www.mymarble.ca/
Mike Marrandino,
Executive Chairman
TF:(855) 661-2390 ext. 104
Email: ir@marblefinancial.ca
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
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